SEOUL, Korea -- BASF, one of the world's leading chemical companies breaks ground on its new compounding plant for engineering plastics compounds Ultramid® (polyamide, PA) and Ultradur® (polybutylene terephthalate, PBT) in Yesan, Chung Nam Province, Korea. The new plant is expected to begin operations by 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 previously announced capacity expansion of BASF´s compounding plant in Pudong (China), BASF's overall compounding capacity in Asia will increase by 2015 from the current 130,000 to a total of 225,000 metric tons.
"As the leading producer and preferred business partner for engineering plastics Ultramid® and Ultradur® compounds, we continuously strengthen our position in growth markets to better collaborate with our customers. With this investment in Yesan, our established capability to offer optimum solutions that make our customers more successful and our strong industry focus, we are well-positioned to support our growth in Korea and other regional markets," said Mr. Raimar Jahn, President, Performance Materials, BASF.
"The groundbreaking of the new site in Yesan is yet another milestone for us. 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," said Mr. WooSung Shin, Managing Director, BASF Korea.
Ultramid and Ultradur are used, for example, in automotive parts as well as the electrical and electronics industry. Some innovative applications include lightweight seat structures, oil sump modules, sensors, engine mounts, connectors and highly integrated laser-structured electronic devices.
About BASF
BASF is one of the world's leading chemical companies. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. It combines economic success with environmental protection and social responsibility. Through science and innovation, it enables customers in nearly every industry to meet the current and future needs of society. Its products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. BASF has summed up this contribution in corporate purpose: " We create chemistry for a sustainable future". BASF had sales of about €74 billion in 2013 and over 112,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).