EANS-News: WACKER Builds New Dispersions Plant in South Korea
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Company Information
Munich / Seoul (euro adhoc) - September 24, 2012 - Wacker Chemie AG is expanding
its production capacity in South Korea for vinyl acetate-ethylene copolymer
(VAE) dispersions. The Munich-based chemical group is constructing a new plant
with an annual capacity of 40,000 metric tons at its site in Ulsan. This measure
will almost double Ulsan's VAE dispersion capacity, making the enlarged
production complex one of the biggest of its kind in South Korea. Expected to
start up in January 2013, the new plant will enable WACKER to meet accelerating
demand for high-quality VAE dispersions, especially in South East Asia's
developing countries. Having budgeted around EUR10 million for the expansion
project, WACKER is strengthening its position as one of the world's major
suppliers of VAE dispersions.
WACKER already produces vinyl acetate-ethylene copolymer dispersions marketed
under its VINNAPAS® brand at Ulsan for use as binders in the adhesives industry.
Now, the group is constructing a second reactor line with an additional 40,000
metric tons of annual capacity for applications in the paints and coatings,
construction, nonwoven, paper and carpet industries. WACKER considers the
expansion to be essential for reliably and enduringly meeting the market growth
that industry experts anticipate in the region.
"Our new production facility for VAE dispersions at Ulsan represents a key step
in our global growth strategy," explained Auguste Willems, Executive Board
member of Wacker Chemie AG. In the coming years, he stressed, demand would
continue growing for top-quality VAE dispersions, especially for those used in
formulating more environmentally-friendly products featuring low emissions.
"That was why we also began this spring expanding annual VAE capacity at our
Chinese site in Nanjing, where we are adding 60,000 metric tons. Nanjing's new
capacity is expected to come on stream by mid-2013. Our expansion projects in
South Korea and China will double our VAE capacity in the region, and thus help
us consolidate our already strong position as a globally leading producer of VAE
dispersions."
Han-Hyung Cho, head of Wacker Chemicals Korea, stressed the importance of the
new plant for Asian markets: "The additional capacity will enable us to continue
supplying high-quality, locally manufactured products and solutions to our
customers in the region. It will also mean we can meet their special
requirements in a targeted manner." Using the Ulsan site's existing
infrastructure, he added, would enable favorable manufacturing costs and lead to
synergy effects in the areas of transportation and logistics. The expanded site
in Ulsan will be one of the biggest of its kind in South Korea.
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 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