Mitsubishi Gas Chemical stop coenzyme Q10 production
X
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Mitsubishi Gas Chemical to stop coenzyme Q10 production

9:22 AM, 3rd October 2012
Mitsubishi Gas Chemical to stop coenzyme Q10 production

TOKYO, JAPAN: Mitsubishi Gas Chemical Company is withdrawing from the manufacture and sale of coenzyme Q10, a material for medicines and health food. MGC will discontinue coenzyme Q10 production by the end of March 2013. The coenzyme Q10 production facility was located at the Niigata plant, having production capacity of 70 t/year.

Since sales were launched in 1980, the MGC coenzyme Q10 business has been developed as a pillar of the Natural Gas Chemicals Company. However, the business has suffered losses due to excessive supply from overseas manufacturers and increases in production capacity at MGC and other domestic manufacturers. MGC also sees no future prospect for a return to profitability.

The company made the decision following a careful study of the feasibility of continuing its coenzyme Q10 business in line with the basic policies defined in the New Med-term Management Plan “MGC Will 2014” introduced in FY2012, which call for the restructuring of loss-making businesses.

© WOC News

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Linde acquires Canadian firm, Contact Welding Supplies

MISSISSAUGA, CANADA: In a move to strengthen its presence in Southwestern Ontario, Linde Canada Ltd has acquired Contact Welding Supplies Ltd, an inde ...

Read more
KBR to execute LNG pre-FEED studies in Tanzania, East Africa

HOUSTON, US: KBR was awarded a contract by Statoil Tanzania AS to perform pre-front end engineering and design (pre-FEED) studies for a prospective li ...

Read more
Foster Wheeler bags CFB steam generator contract in Korea

ZUG, SWITZERLAND: Foster Wheeler AG’s Global Power group subsidiary is awarded a contract by Doosan Heavy Industries & Construction Co Ltd f ...

Read more
Calumet Specialty completes acquisition of Montana Refining

INDIANAPOLIS, US: Calumet Specialty Products Partners LP completed the previously announced acquisition of Montana Refining Company Inc on October 1, ...

Read more
Westlake hikes ethylene and PVC capacity at Kentucky plant

HOUSTON, US: Westlake Chemical Corporation is converting the feedstock for its Calvert City, Kentucky ethylene plant from propane to ethane along with ...

Read more
Technip bags important subsea contract in Gulf of Mexico

PARIS, FRANCE: Technip was awarded by Murphy Exploration & Production Company - USA a lump sum contract for the development of the Dalmatian field ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X