Mitsubishi Chemical to withdraw from polybutylene succinate business at PTT MCC Biochem
Mitsubishi Chemical Corporation announced that it has decided to withdraw from the polybutylene succinate (PBS) business at PTT MCC Biochem Co., Ltd, Mitsubishi Chemical’s equity method affiliate jointly owned with PTT Global Chemical Public Company Limited Corporation.
Background to the Withdrawal from the Business. PBS is a biodegradable plastic that decomposes into water and carbon dioxide through the action of naturally occurring microorganisms. PTT MCC Biochem company, an equity-method affiliate jointly owned by Mitsubishi Chemical and PTT Global Chemical Limited, commenced commercial production of “BioPBS™” in 2017, and the product has been adopted in applications such as coatings for paper cups and coffee capsules.
However, the PBS business has continued to suffer from low profitability due to various factors, including a divergence between actual market conditions and initial assumptions. After careful consideration of future prospects, Mitsubishi Chemical has concluded that achieving sustainable growth in this business will be difficult and has therefore decided to withdraw from the business. Following the dismantling of its production facilities, PTT MCC Biochem company will be dissolved and liquidated in accordance with applicable local laws and regulations.
Overview of the Business to be Withdrawn
Products: BioPBS™
Manufacturing Site: PTT MCC Biochem Company Limited (Rayong Province, Thailand)
Schedule for the Withdrawal from the Business
December 2025: Production terminated Sales will end once stock runs out.
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