Kolon & BASF Sign a Agreement to Set up JV for POM in South Korea

Kolon Plastics and BASF have signed an agreement to establish a joint venture in South Korea to manufacture polyoxymethylene (POM), an engineering plastic used in industrial, transportation, construction and consumer markets.

The 50:50 JV, named Kolon BASF innoPOM Inc, will have an annual capacity of 70,000 metric tonnes. It will be located at the existing manufacturing site of Kolon Plastics in Gimcheon, South Korea, which already includes a POM production. The start of operation is scheduled for the second half of 2018 creating in total the world’s largest complex for the production of POM.

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