DANBURY, CONN. - Asian Acetyls Co. Ltd., a new joint venture formed by Union Carbide Corp., BP Chemicals Inc. and Samsung Fine Chemicals Co., will manufacture vinyl acetate monomer for the Asia-Pacific market. The new company will build a VAM plant in Ulsan, South Korea. The cost of the $80 million project will be shared equally among the three companies. Construction is scheduled to start in mid-1995, with completion set for the third quarter of 1996, Danbury-based Union Carbide said in a news release.
The new, 330 million-pound unit will be adjacent to an existing, 440 million-pound acetic acid unit now operated by Samsung and Cleveland-based BP Chemicals that will supply it with acetic acid, the main raw material for VAM production.
Samsung and BP plan to increase the acetic acid unit's capacity through debottlenecking.
VAM is used in adhesives and architectural coatings and for production of emulsion resins.