Ishihara Sangyo Kaisha Closes Titanium Dioxide Plant

Ishihara Sangyo Kaisha to close titanium dioxide plant in Singapore

5:49 AM, 13th August 2013
Ishihara Sangyo Kaisha Business News

SINGAPORE: ISK Singapore Pte Ltd, a wholly owned subsidiary of Ishihara Sangyo Kaisha Ltd (ISK), will close the titanium dioxide production plant as a part of the ongoing reformation of inorganic business portfolios. The plant located at 39 Tuas West Drive, Singapore, will consolidate the production of titanium dioxide products into its existing plant in Yokkaichi, Japan.

The higher cost infrastructure and strong local currency has been challenging to the business at ISK Singapore. Recent sharp increase of feedstock prices and worldwide sluggish demand has further impacted its profitability negatively to such an extent that significant improvement cannot be expected in the foreseeable future.

Under the given situation, ISK considered it inevitable to downsize its inorganic chemicals business in order to sustain the business by achieving a rapid earnings recovery and increasing the market competitiveness by the consolidation of resources into Yokkaichi Plant. To improve the performance of inorganic chemicals business, ISK continues to put various plans into practice including overall cost reductions, increasing sales of value-added products such as functional materials, and commercialization of new business such as rare metals and battery materials.

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