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SK Chemicals to Set Up Joint Venture with Eastman Chemical Company

SK Chemicals

SK Chemicals is planning to build its fourth polyethylene terephthalate glycol (PETG) production plant in Ulsan City with Eastman Chemical Company.

According to industry sources, SK Chemicals is planning to build its fourth polyethylene terephthalate glycol (PETG) production plant in Ulsan City with Eastman Chemical Company. The two companies are currently discussing details of the plan in the final stage of negotiations. 

Eastman Chemical Company is currently the largest specialty chemical product and chemical material manufacturer in the world. Eastman Chemical Company and SK Chemicals are in a league of their own in the field of PETG production as well.

Experts point out that their joint venture and joint plant operations are quite unexpected in this regard. At present, SK Chemicals is running three PETG production factories in Ulsan City and the South Korean company has built and run the three facilities on its own.

“Eastman Chemical Company has most of its production lines in the United States and it is likely to supply products produced in the joint venture to Asian markets such as Malaysia,” said an investment bank, adding, “Both Eastman and SK are expected to be able to realize the economy of scale by means of the new plant with the global PETG demand on the rise.”

The Original Posted by Jung Min-hee/Business Korea

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