BASF, Kolon JV world-scale polyoxymethylene plant in Korea

BASF, Kolon JV for world-scale polyoxymethylene plant in Korea

5:20 AM, 19th March 2016
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LUDWIGSHAFEN, GERMANY/GIMCHEON, KOREA: BASF SE and Kolon Plastics said they have agreed to establish a joint venture in Korea to manufacture polyoxymethylene (POM), an engineering plastic used in industrial, transportation, construction and consumer markets.

The 50:50 joint venture “Kolon BASF innoPOM Inc” will have an annual capacity of 70,000 metric tonne. It will be located at the existing manufacturing site of Kolon Plastics in Gimcheon, Korea, which already includes a POM production. The start of operation is scheduled for the second half of 2018 creating in total the world’s largest complex for the production of POM.

Following the start-up of the new plant in Korea in the second half of 2018, BASF will discontinue production of POM in Ludwigshafen.

Both companies have long-term experience in POM production and will use Kolon’s highly efficient production technology to provide best-in-class product quality.

“In the new joint venture, the strengths of each company will be reinforced enhancing our overall competitiveness. Kolon Plastics’ globally leading technology and the efficiencies of the existing infrastructure will generate significant synergies. We are looking forward to this joint venture that may lead to further opportunities for cooperation,” said Hee Goo Jang, CEO, Kolon Plastics.

“The markets for POM are growing around the world. Particularly in Asia the joint venture will strengthen our ability to support our customers with high-performing, innovative specialties,” said Raimar Jahn, president, performance materials division, BASF.

Polyoxymethylene resins are engineering plastics used in automotive manufacturing as well as for electric and electronic goods, consumer goods, medical products and construction.

The products are to be marketed around the world separately by the two companies under their respective trade names and proprietary formulations. Kolon markets its POM product line under the trade name Kocetal. BASF offers POM products for a wide range of applications under the trade name Ultraform.

© Worldofchemicals News

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