BASF to build compounding plant in South Korea

By Frank Esposito
Senior Staff Reporter

Published: December 16, 2013 3:44 pm ET
Updated: December 16, 2013 3:48 pm ET

Related to this story

Topics Materials, Asia, Materials Suppliers
Companies & Associations BASF SE

BASF SE will open a new compounding plant in Yesan, South Korea, by the end of 2015.

The plant will make compounds based on BASF’s Ultramid-brand nylon resins and Ultradur-brand polybutylene terephthalate (PBT) resins. The site will employ more than 30 and will have annual production capacity of almost 80 million pounds, officials with Ludwigshafen, Germany-based BASF said in a Dec. 16 news release.

The new plant — combined with a previously announced expansion in China — will bring BASF’s total Asian compounding capacity to almost 500 million pounds per year.

The investment in the new plant “is a milestone in Korea and is indicative of the success that we have had in this market,” performance materials president Raimar Jahn said in the release. BASF Korea managing director Woo-Sung Shin added that the plant “will meet the growing demand of our engineering plastic solutions for the automotive and electrical and electronic industry in Korea.”

The announcement continues a busy 2013 for BASF. Earlier this month, the firm sold its Vinuran-brand PVC modifier business to Japanese materials maker Kaneka Corp. for an undisclosed price. Earlier in the year, BASF reorganized its plastics business into four separate units and opened a new resin blending plant in Bahrain.

By the end of the year, BASF will have begun production on two new plastic products. AIM Filtertec is using BASF technology to make Steron-brand polyurethane/silicon fabric at a new plant in Pune, India. While in Lemforde, Germany, BASF will begin production of a PU foam insulation panel for the construction market.

BASF ranks as one of the world’s largest makers of chemicals, specialty plastics and plastic additives. The firm employs more than 110,000 worldwide and posted sales of almost $94 billion in 2012.


Comments

BASF to build compounding plant in South Korea

By Frank Esposito
Senior Staff Reporter

Published: December 16, 2013 3:44 pm ET
Updated: December 16, 2013 3:48 pm ET

Post Your Comments


Back to story


More stories

Image

EPA fines RI polymer company

August 29, 2014 1:20 pm ET

A Rhode Island polymer manufacturer has reached a $60,000 settlement with the U.S. Environmental Protection Agency (EPA) for violating federal clean...    More

Image

Haitian's standardization efforts paying off

August 29, 2014 9:53 am ET

Streamlined design efforts and robust export sales helped propel Ningbo, China-based injection molding machine manufacturer Haitian International...    More

Image

Chinese compounders seek market shares, often at the expense of margins

August 29, 2014 10:02 am ET

China's largest compounder, Kingfa Sci. & Tech. Co. Ltd., as well as its more automotive-focused counterparts Shanghai Pret Composites Co. Ltd. and...    More

Image

PP prices rise 5 cents

August 28, 2014 3:59 pm ET

After a one-month break, volatility has returned to the North American polypropylene resin market, with prices increasing by an average of 5 cents...    More

Image

DuPont fined for 2010 chemicals release

August 28, 2014 1:37 pm ET

DuPont Co. has been fined almost $1.3 million for the release of several chemicals — including plastics feedstock phosgene — at its plant ...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events