皇冠体育app

BEIJING -- Petro皇冠体育app, one of 皇冠体育app's two major onshore oil and gas producers, has abandoned a plan to jointly produce polycarbonate (PC) in northern 皇冠体育app with the US-based GE Plastic, company sources announced on Wednesday.

A source with Petro皇冠体育app said that the decision was based on market research but did not elaborate.

Last June, GE Plastic, headquartered in Pittsfield, Massachusetts, the United States, announced a partnership plan with Petro皇冠体育app, which would provide raw materials for the joint-venture PC facility.

It is reported that the possibility of GE Plastic being sold by its parent company, GE, could have affected the joint-venture plan.

Industry observers say there will be an oversupply of PC in 皇冠体育app over the next few years. This prediction was another likely factor behind the abandonment, observers said.

A petrochemical product, polycarbonate is mainly used for producing instruments, precision machines, auto parts, sports gear and CDs/DVDs.