SGL and Samsung form carbon fiber venture

EUROPEAN PLASTICS NEWS

Published: June 27, 2013 1:54 pm ET
Updated: June 27, 2013 1:56 pm ET

Related to this story

Topics Materials, Joint Venture, Materials Suppliers

SGL Carbon AG of Germany has started a joint venture with Samsung Petrochemical Co. in South Korea for marketing and sales of carbon fiber composites.

Wiesbaden, Germany-based SGL said in a statement: "The cooperation is expected to provide a stable long-term supply of carbon fiber materials for Samsung and promote its use in various Samsung products and applications such as consumer electronics, medical devices and engineering applications. Carbon fiber materials from SGL Group will be preferred by the joint venture. In the mid-term, the joint venture will aim for business expansion over the rest of Asia."

SGL said the carbon fiber market is expected to grow by 20 percent annually in South Korea and China. Currently the Korean market focuses on prepreg and sporting goods.

The joint venture will target applications in the markets for electronic products, wind blades, pressure vessels, automotive and household appliances.

The automotive industry has shown increasing interest in SGL and its products. In 2009, BMW started a joint venture with SGL to develop series production of carbon fiber car parts, the fruits of which will be seen first in the passenger compartment of the BMW i3 electric car, which is due for launch later this year. In 2011, BMW and VW bought strategic shareholdings in SGL Group.

Juergen Koehler, member of the board of management of SGL Group, said: "Our joint venture [with Samsung] underlines our strategy to enter new markets and develop innovative applications for our high-performance materials."

Yoosung Chung, President and CEO of Samsung Petrochemical: "Lightweight materials have become an important factor not only in industrial applications but also the consumer end markets such as digital media. This partnership will position Samsung as a leading player in the development and application of carbon fiber-based products."


Comments

SGL and Samsung form carbon fiber venture

EUROPEAN PLASTICS NEWS

Published: June 27, 2013 1:54 pm ET
Updated: June 27, 2013 1:56 pm ET

Post Your Comments


Back to story


More stories

Image

Americhem beats weather woes at start of 2014 for good fiscal year

November 26, 2014 9:45 am ET

Gains from the automotive and construction markets provided a strong fiscal 2014 for Americhem Inc.    More

Image

PE prices drop for first time in two years, PP down 5 cents

November 26, 2014 10:22 am ET

North American polyethylene buyers might want to circle November 2014 in red on their calendars — since PE prices this month have fallen for...    More

Image

Compounding products and services

November 24, 2014 9:47 am ET

   More

Image

Dow reaches agreement with Third Point

November 21, 2014 9:11 am ET

Dow Chemical Co. has reached an agreement with the investment firm that has been trying to force the company to sell off some assets.More

Image

Ineos making its UK shale play

November 21, 2014 9:29 am ET

Chemical giant Ineos Group AG is planning to be the biggest player in the United Kingdom's shale gas industry.    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events