BASF inaugurates engineering plastics compounding plant in Yesan, South Korea
Seoul, South Korea – October 28, 2015 – BASF has started up its new compounding plant for Ultramid® Polyamide (PA) and Ultradur® Polybutylene Terephthalate (PBT) compounds in Yesan, Chung Nam Province.
To facilitate the development of new applications, innovations and joint developments with customers, BASF will also open a new engineering plastics product development laboratory at its site in Ansan, Gyeonggi Province, South Korea. The new lab is expected to open in Q2 2016.
“We contribute to our customers’ success by helping them develop new innovations and quickly bring them to the market. The new plant ensures timely supply of our compounds to customers in Korea,” said Andy Postlethwaite, Senior Vice President, Performance Materials Asia Pacific, BASF. “Additionally, our planned product development laboratory in Ansan enables us to develop new applications and innovations faster together with our customers.”
The new plant houses proprietary technologies similar to those used at other BASF compounding plants and has an initial annual capacity of 36,000 metric tons. It will support customer demand for high-quality engineering plastic compounds in the innovation-driven automotive and electrical & electronics industries in Korea and Japan. The new product development laboratory will provide increased technical competency and enabling technologies. This will benefit customers seeking to grow their business.
The engineering plastics market in Korea is expected to grow at about 6 percent per annum. Owing to their high-performance properties such as toughness, abrasion resistance, chemical resistance and heat resistance, Ultramid® polyamide and Ultradur® PBT meet the growing market demand for engineering plastics. As one of the top three electrical and electronic goods manufacturing countries in the world, Korea is well positioned to benefit from local availability and production of Ultramid® PA and Ultradur® PBT compounds.
“During the past 60 years, BASF has continuously invested in Korea, making the country an important production hub for BASF to serve customers in Korea and the Asia Pacific region. The opening of the new site in Yesan is yet another milestone for us as it expands our manufacturing footprint in Korea. Importantly, the site holds the potential for further expansion and future projects,” said WooSung Shin, Managing Director, BASF Korea.
With the inauguration, BASF’s compounding plant in Yesan more than doubles the total compounding capacity of BASF’s engineering plastics in Korea. BASF’s overall compounding capacity in Asia has thus increased to 222,000 metric tons.
About BASF’s Performance Materials Division
BASF’s Performance Materials division encompasses the entire materials know-how of BASF regarding innovative, customized plastics under one roof. Globally active in four major industry sectors - transportation, construction, industrial applications and consumer goods – the division has a strong portfolio of products and services combined with a deep understanding of application-oriented system solutions. Key drivers of profitability and growth are our close collaboration with customers and a clear focus on solutions. Strong capabilities in R&D provide the basis to develop innovative products and applications. In 2014, the Performance Materials division achieved global sales of € 6.5 bn.
More information online: www.performance-materials.basf.com
At BASF, we create chemistry – and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of over €74 billion in 2014 and around 113,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.