TOKYO (Oct. 12, 2 p.m. ET) – Less than a month after reaching a deal to buy Solvay Group's polyphenylene sulfide compounds business, Tokyo-based DIC Corp. has announced plans to expand its PPS footprint in Europe.
The company plans to spend about 14 million euros ($19.3 million) to build a PPS compounding plant in Vienna, Austria. The new plant will have an annual production capacity of 6,000 metric tons, with an option to expand eventually to 10,000 metric tons.
The move marks a change in geographic strategy for DIC, formerly known as Dainippon Ink and Chemicals, which has production plants in Japan and Malaysia.
“As the world's leading producer of PPS compounds, the group has traditionally focused efforts to capture business in Japan and other Asian regions, including the People's Republic of China,” the company said in a news release. “However, in recent years it has also stepped up market development efforts in Europe.”