Mitsubishi Heavy Industries Ltd. (OTCMKTS:MHVYF) has obtained an order for systems supply to support a massive polyethylene production release for ExxonMobil’s Beaumont Polyethylene facility. The production train is scheduled to be closed in 2019, and will manufacture 650,000 tons of polyethylene annually.
The highlights
Mitsubishi Heavy Industries is currently constructing a Polyethylene plant containing 2 units, each with the similar scale of production volume, at ExxonMobil’s Mont Belvieu facility, making it the third order after the closure in 2011 of a polyethylene facility in Singapore. The company will supply the reaction, shipping and finishing equipment for the plant, and utility facilities for air, steam and water.
Polyethylene is used in the manufacturing of plastic products such as grocery bags, product packaging and construction films. The company has participated in the assignment throughout the different phases of ExxonMobil’s planning. Additionally, Mitsubishi Heavy has an impressive track record meeting orders for large compressor turbines for LNG and ethylene liquefaction plants for ExxonMobil.
Shunichi Miyanaga, the CEO and President, said that they feel extremely honored to have obtained successive orders from ExxonMobil, the pioneer in the petrochemical industry. They will aim to offer a high quality plant, giving utmost emphasis on safety management, and with other assignments in Singapore and Texas.
The U.S. industry for chemical plants is extremely active, owing to growing production of shale gas. Earlier in April, Mitsubishi Heavy moved its headquarters to Houston from New York, the center of major chemical plant clients. Going forward the firm will undertake proactive sales measures in the increasingly lively U.S. chemical plant industry.
In unrelated news, the company reported that it has closed the joint advancement of a prototype of InteRSePT, a cybersecurity technology with Nippon Telegraph. The technology provides secure and safe system businesses utilizing real-time anomaly response and detection for unknown attacks. These two firms intend to apply the newly advanced technology in commercial fields like chemical plants and thermal power production facilities where continuous availability is of high importance.
