By: ICN Bureau
Last updated : September 03, 2024 8:14 am
Mitsui Chemicals has undertaken all possible efforts to rationalize the business and reduce costs
Mitsui Chemicals has decided to withdraw from business associated with styrene–acrylic resin and polyester resin for toner binders. Production is scheduled to end in the first half of fiscal 2025.
The company took the decision to shut down toner binder business as the profitability of the business has been placed under extreme pressure by escalating price competition, soaring raw material prices and shrinking demand for printing as a result of changes in work styles since the COVID-19 pandemic.
In response to this situation, Mitsui Chemicals has undertaken all possible efforts to rationalize the business and reduce costs but has now determined that it is unfeasible to ensure the level of profitability required to sustain the business and has therefore decided to withdraw from it.