WACKER Opens New Dispersions Plant in South Korea
DruckansichtCorporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. Subtitle: - Production capacity increased to 90,000 metric tons per year, almost doubling total capacity in South Korea - Investment spending totals some ...
Jena (Quelle: Wacker)
Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
Subtitle: - Production capacity increased to 90,000 metric tons per year, almost doubling total capacity in South Korea - Investment spending totals some €10 million - President and CEO Rudolf Staudigl: “The expansion is essential if we are to continue meeting our customers’ high demand for dispersions over the coming years.”
Munich / Seoul (euro adhoc) - February 6, 2013 - Today, Wacker Chemie AG officially launched its new production plant for vinyl acetate-ethylene copolymer (VAE) dispersions at its Ulsan site in South Korea. The additional 40,000 metric tons from the second reactor line increases the site's VAE-dispersion capacity to a total of 90,000 tons per year. The production capacity of the site has thus almost doubled, making the plant complex one of the biggest of its kind in South Korea. The expansion is WACKER's response to the rising demand for high-quality VAE dispersions, especially in Southeast Asia's emerging markets. The project goal is to ensure sufficient capacities of VINNAPAS® VAE dispersions now and in the years ahead. As a result, WACKER will be able to offer its customers in the region consistently high product quality and supply security over the long term. Having invested around EUR10 million in the expansion project, WACKER is strengthening its position as one of the world's major suppliers of VAE dispersions.
President and CEO Rudolf Staudigl emphasized the strategic importance of the new reactor line for Asian markets: "The expansion of our plant here in Ulsan is a key step in our global growth strategy," he said. "The demand for top-quality VAE dispersions is continuously rising in Southeast Asia, especially for those used in formulating low-emission, eco-friendly products. The additional capacity will enable us to continue reliably meeting our customers' high demand over the coming years, thus securing our leading global position in VAE dis-persions."
During his speech at the opening ceremony, Han-Hyung Cho, head of Wacker Chemicals Korea, thanked all employees for their tremendous efforts. He believes that their contribution was essential to WACKER implementing this key strategic project in record time - in just one year. "Our cost and quality leadership coupled with our comprehensive local service is the secret of VINNAPAS® dispersions' success. The new reactor line now enables us to cater even better to the specific needs of our customers in the region, allowing us to offer them substantial added value over the long term," emphasized Cho.
Under its VINNAPAS® trademark, WACKER already produces vinyl acetate-ethylene copolymer dispersions at Ulsan for use as binders in the adhesives industry. The second reactor line's additional capacity is particularly aimed at reliably meeting the strong growth in the paints and coatings sector, as well as in construction, paper, carpet and nonwovens applications. WACKER already started expanding the VAE capacity of its Nanjing site in China by 60,000 tons per year in spring 2012. This is set for completion by mid-2013. With the expansions in both South Korea and China, the company is doubling its VAE capacity in the region.
With over 50 years' experience in the development and production of vinyl acetate-ethylene copolymer dispersions, WACKER is a global technology and market leader in this field. VINNAPAS® dispersions are popular binders in the construction, paints, coatings and adhesives industries. The dispersions find application, for instance, in the formulation of low-odor and low-emission indoor paints, but also in plasters, technical textiles and nonwovens, carpet adhesives and as binders in polymer materials based on renewable resources.
WACKER in South Korea WACKER has been supplying chemicals to South Korea since the mid-1980s. In 1996, it set up Wacker Chemicals Korea as its subsidiary there. Since early 2008, WACKER's site in Ulsan (southeastern Korea) has been producing VAE dispersions and providing local support to customers and partners through its technical center for research and applications engineering. In 2010, WACKER acquired the South Korean Lucky-Silicone brand - used mainly for producing and marketing silicone sealants for the construction sector. In early 2012, WACKER completed the expansion and relocation of its technical labs and offices to a new regional competence center center in Pangyo Techno-Valley, near South Korea's capital Seoul. The competence center brings together R&D activities, applications technology and the WACKER ACADEMY, a training facility that focuses on silicone and polymer applications.
Further inquiry note: Nadine Baumgartl
Media Relations & Information
Tel.: +49 (0)89 6279 1604
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company: Wacker Chemie AG Hanns-Seidel-Platz 4 D-81737 München phone: +49 (0) 89 6279 01 FAX: +49 (0) 89 6279 1770 mail: email@example.com WWW: http://www.wacker.com sector: Chemicals ISIN: DE000WCH8881 indexes: MDAX, CDAX, Prime All Share stockmarkets: free trade: Hannover, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing: Berlin, regulated dealing/prime standard: Frankfurt language: English