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Formosa Plastics USA force majeure on PVC supply remains in force in early June

June 08/2021

MOSCOW (MRC) -- Formosa Plastics USA, part of Formosa Petrochemical, left force majeure (FM) on polyvinyl chloride (PVC) supplies from its plants in North America in force as of 2 June, 2021, reported S&P Global with reference to the company's letter.

The FM was declared on 15 February, 2021, due to the deep freeze that hit the region. The severe weather conditions affected then all Texas and western Louisiana facilities.

As MRC informed before, in March, 2020, Formosa Plastics was emerging from a turnaround at its 798,000 mt/year PVC plant and upstream 753,000 mt/year vinyl chloride monomer unit at its Point Comfort, Texas, complex.

According to MRC's ScanPlast report, Russia's overall PVC production reached 346,100 tonnes in the first four months of 2021, down 1% year on year. All producers decreased production volumes over the reported period, with the exception of the Bashkir Soda Company.

Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The company"s plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).


mrcplast.com
Author:Margaret Volkova
Tags:PVC, vinilhlorid, SPVC, Formosa, Bashkir Soda Company, Russia, USA.
Category:General News
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