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.