EANS-News: WACKER Opens New Dispersions Plant in South Korea
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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.
Company Information
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
E-Mail: nadine.baumgartl@wacker.com
end of announcement euro adhoc
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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: info@wacker.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