Teijin, SK Chemicals collaborate polyphenylene sulfide in South Korea

Teijin, SK Chemicals collaborate for polyphenylene sulfide in South Korea

10:44 AM, 4th February 2013
Teijin, SK Chemicals collaborate for polyphenylene sulfide in South Korea

TOKYO, JAPAN: Teijin Chemicals Ltd established a joint venture with SK Chemicals to develop, produce and distribute polyphenylene sulfide (PPS) resins and compounds in July. For Teijin Chemicals the partnership will also enable the company to expand its lineup of resin products and create new value-added solutions, especially in the fields of automotive and electronics materials.

The joint venture, in which Teijin Chemicals will hold a 34 per cent share and SK Chemicals the remaining 66 per cent, will construct a PPS resin plant in Ulsan, South Korea. The plant will begin operations with a PPS resin annual production capacity of 12,000 tonne in the fiscal year starting in April 2015. As demand grows, capacity eventually is expected to reach 20,000 tonne. An existing pilot plant will be utilized for market and application development until the new plant starts operating.

The joint venture will pursue global markets, with a special focus on the fast-growing Asian region, aiming to become a world leader in PPS resin and compounds. The partners envision a global market share of 20 per cent by 2020 and annual sales of KRW350 billion ($320 million) in fiscal 2024.

© WOC News 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Technip bags ONGC’s offshore project contract in Mumbai, India

MUMBAI, INDIA: Technip, in a consortium with AFCONS Infrastructure Ltd and TH Heavy Engineering Berhad, was awarded a contract by Oil & Natural ...

Read more
Nufarm acquires 51 pc stake in Brazilian seeds firm

VICTORIA, AUSTRALIA: Nufarm’s wholly owned Nuseed subsidiary, Nuseed do Brasil SA, has acquired 51 per cent of the equity in Atlantica Sementes ...

Read more
Lonza to adapt management structure to improve effectiveness

BASEL, SWITZERLAND: Lonza plans to adapt the management structure of the company to focus on its target markets and to improve the effectiveness of ...

Read more
Rashtriya Chemicals to supply potash to Encanto

NEW DELHI, INDIA: A consortium led by Rashtriya Chemicals and Fertilisers is in talks with Canada-based Encanto Potash for a long term supply agreemen ...

Read more
Indorama Eleme gets $100 mn approval from African Bank for urea plant in Nigeria

PORT HARCOURT, NIGERIA: The Board of Directors of the African Development Bank (AfDB) has approved a senior loan of $100 million to Indorama Eleme F ...

Read more
PMC acquires Dow’s methyl tin stabilizers business

MOUNT LAUREL, US: PMC Group NA, has completed the acquisition of the global methyl tin stabilizers and solid lubricants business of The Dow Chemical C ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X