16 Jun 2015
TOKYO-listed chemical and pharmaceutical company Teijin is closing its polycarbonate resin plant in Singapore by year’s end and putting the industrial facility on Jurong Island up for sale through an expression of interest.
The plan to shutter is part of the company’s restructuring exercise of its loss-making businesses.
Hurt particularly by high energy costs, the Singapore plant, which began operations in October 1999, has also been beaten by low-cost China rivals, the company said last November.
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Source: Business Times