Toray to Establish New Production Base for PPS Resin in Korea
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Toray to Establish New Production Base for PPS Resin in Korea
Toray Industries and its Korean unit to invest 300 billion won for the project at Saemangeum

30(Wed), Oct, 2013



Toray Advanced Materials Korea Chairman Lee Young-kwan shakes hands with Jeollabuk-do Gov. Kim Wan-joo 

after announcing a plan for Japan’s Toray Industries and its Korean unit to invest 300 billion won to build a

 plant capable of producing polyphenylenesulfide (PPS) resin and compound developed with the former’s own 

technology at Saemangeum, in the Lotte Hotel in downtown Seoul on Oct. 7. (photo: Toray Advanced Materials Korea)




Japan’s Toray Industries and its Korean unit will invest 300 billion won to build a plant capable of producing polyphenylenesulfide (PPS) resin and compound developed with the former’s own technology at Saemangeum, a massive reclaimed area on the west coast.

Toray Group is a comprehensive PPS manufacturer, which offers PPS not only as compounds but also as films and fibers, and is the largest player in the field. The plant, to be established in the Saemangeum Industrial Complex in Gunsan, Jeollabuk-do, is Toray’s first manufacturing base for PPS resin outside of Japan. 

The integrated PPS plant will be built on a site of 214,500 sq. meters, at a cost of 300 billion won, including 86 billion won in foreign direct investments from Toray Industries. The plant, whose construction is to begin around the end of this year, is expected to be operational in the second half of 2015 with a capacity to produce 8,600 tons of PPS resin and 3,300 tons of PPS compound annually. Toray Industries plans to ramp up the plant’s annual capacity. 

Moreover, by manufacturing sodium hydrogen sulfide (NaSH) and paradichlorobenzene (p-DCB), the two main raw materials for manufacturing PPS resin at the same plant, Toray intends to make it a cost-competitive integrated manufacturing base producing raw materials and resins. Further, Toray will simultaneously introduce a compounding facility to carry out design and functional processing on the resins. 

Asian countries had scrambled to attract the integrated PPS plant, but the Saemangeum Industrial Complex was selected as the site of the new plant thanks to aggressive support and collaboration from the Ministry of Trade, Industry and Energy and the Jeollabuk-do provincial government. The Saemangeum site has such strengths as easy availability of diverse raw materials, proximity to China, the world’s biggest demand market, and sufficient expert manpower, transportation, and port infrastructure. 

The size of the Korean PPS compound market is projected to see its annual demand rise from 4,000 tons in 2012 to 8,000 tons in 2020. The global PPS market is forecast to grow from 70,000 tons in 2012 to 140,000 tons in 2020 with an annual average growth rate of 8 percent with a surge in demand from electric and electronic sectors in emerging economies. 


Toray Advanced Materials Korea, Preferred Bidder to Take Over Woongjin Chemical

Toray Advanced Materials Korea Inc. has been selected as the preferred bidder to acquire Woongjin Chemical.

Following its selection as the preferred bidder, Toray Advanced Materials Korea put forward a plan to promote shared growth between the company and Woonjin Chemical and make the latter a global chemical materials provider. Toray Advanced Materials Korea also announced it plans to expand Woongjin Chemical’s mainstay businesses. 

Toray Advanced Materials Korea issued a statement on Sept. 30 saying, “Toray Advanced Materials Korea plans to continue to invest in the years to come, develop value-added products, and push ahead with new businesses based on synergetic effects and integration of businesses, since the company is complementary and has synergetic effects with Woongjin Chemical.”

   
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