Mitsubishi sells India petrochemical business to Purnendu Chatterjee
The Dollar Business BureauMitsubishi Chemical Holdings Corp announced it will transfer controlling equity interest of its Purified Terephthalic Acid (PTA) manufacturing subsidiary to India.Purnendu Chatterjee, Founder and Chairman of The Chatterjee Group (TCG), has acquired MCC’S petrochemical facility in India. The Japanese conglomerate of late has been trying to exit its petrochemical businesses in India and China."Mitsubishi Chemical Holdings Corp, the holding company of Mitsubishi Chemical Corp in its Board meeting in Tokyo passed a resolution to transfer controlling equity interest of MCC's PTA manufacturing subsidiary in India,” the company said in a statement.Mitsubishi had set up its India facility to manufacture purified terephthalic acid (PTA) in West Bengal. PTA is used to make industrial grade polyester resins, and PET ...
Anti-Dumping investigation on Purified Terephthalic Acid initiated
The Dollar Business Bureau Yet another investigation is initiated for the anti-dumping concerning imports of Purified Terephthalic Acid (PTA) that are originating in or are exported from China PR, Iran, Indonesia, Malaysia & Taiwan. MCC PTA India Corp. Pvt. Ltd., and Reliance Industries Limited have jointly filed an application before the designated authority of Directorate General of Anti-Dumping & Allied Duties for initiating the anti-dumping investigation. The usual process of the filing has seen its success as the authorities have found a prima-facie evidence of the dumping of the ‘subject goods’ originating from ‘subject countries’ to the domestic industry. The decision has been taken to initiate the investigation into alleged dumping and the consequent injury to the domestic industry, so that ...
