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, Materials Suppliers, Joint Venture

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

Total picks new management following CEO's death in crash

October 23, 2014 11:03 am ET

Total SA has picked a new management team to oversee the company in the wake of a plane crash in Moscow that killed its chairman and CEO earlier this ...    More

Image

Report: Private equity companies may seek to buy Bayer MaterialScience

October 23, 2014 10:56 am ET

A number of investment groups are reported to be interested buying Bayer AG's MaterialScience operation, valued at around 10 billion euros ($12.6...    More

Image

Plastics lead Dow's quarterly growth

October 23, 2014 10:15 am ET

Dow Chemical Co. has announced its third quarter results for 2014 showing a 5 percent increase on the third quarter of 2013, rising to $14.4 billion...    More

Image

A. Schulman reports growth in sales and profit

October 22, 2014 7:58 pm ET

Executives with materials maker A. Schulman Inc. have to be smiling after seeing full results for the firm's 2014 fiscal year.    More

Image

PolyOne takes on LED lighting

October 22, 2014 4:23 pm ET

PolyOne Corp. is making inroads into LED lighting applications with its Therma-Tech-brand material technology.    More

Market Reports

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 million dollar 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

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

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

More Events