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 



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