BASF, the world's leading chemical company, will build a compounding plant for engineering plastics Ultramid® (polyamide) and Ultradur® (polybutylene terephthalate, PBT) compounds in Yesan, Chung Nam Province, Korea. The new plant is expected to begin construction by first half of 2014 and operations from the end of 2015, and will create more than 30 new jobs.
With an initial annual capacity of 36,000 metric tons, the new plant will more than double the total compounding capacity of BASF's engineering plastics in Korea. With this project and the capacity expansion of BASF´s compounding plant in Pudong/Shanghai (China), which has already been announced, BASF's overall compounding capacities in Asia will increase from the current 130,000 to a total of 225,000 metric tons.
"As the leading producer and preferred business partner of engineering plastics, we continuously strengthen our position in the key markets. Our investment in Yesan is a milestone in Korea and is indicative of the success that we have had in this market. By expanding our presence in optimal locations within the country, such as Yesan, we will be able to further our collaboration with and strengthen our supply position to customers in Korea," said Mr. Raimar Jahn, President, Performance Materials, BASF.
"This is our first plant at the Yesan site in Korea and it is an important contribution to achieve our strategic targets. With its excellent infrastructure, Yesan offers a favorable environment for the further expansion of the plant in the future to meet the growing demand of our engineering plastic solutions for the automotive and electrical & electronic industry in Korea," said Mr. WooSung Shin, Managing Director, BASF Korea.
Similar to the compounding plant in Ansan, Korea and other Asian locations, the new plant in Yesan will produce Ultramid® and Ultradur® compounds. Ultramid and Ultradur are used, for example, in automotive parts as well as the electrical and electronics industry. Some innovative applications include seat structures, oil sump modules, sensors, engine mounts, connectors and highly integrated laser-structured electronic devices.
About BASF
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. 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 €72.1 billion in 2012 and more than 110,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).
