Written on 01.10.2009 - Industry
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SKC to build polyurethane systems plant in the US

The ground-breaking ceremony in Covington was attended by SKC chairman Choi Shin-won

The Korean PO and polyether maker SKC plans to enter the US polyurethane market by building a factory to produce key materials for PU in Covington, GA, USA. The new plant will annually produce 20,000 t of materials for PU systems used for car seats, buildings and refrigerators, the company said. The factory is expected to be completed in June 2010.

SKC, an affiliate of the SK Group, said the plant will pave the way for the company to expand its polyurethane business, currently focused on Korea and China. SKC already manufactures polyester film at its plant in Covington since 1999. With a 15 % share in the US film market, SKC is one of three film makers there, along with DuPont-Teijin and Mitsubishi, the company said.

SKC's US unit has seen steady revenue growth over the past few years, with sales reaching USD 230 million last year, from USD 70 million in 2000. It has posted an annual operating profit ratio of between 10 – 20 % since 2006.

"Our new factory targets Korean carmakers Hyundai Motor and Kia Motors who operate plants in the United States", the company said. The new factory will be the company’s second polyurethane systems house overseas. SKC looks to build three more plants in Poland, India and an East Asian country in a bid to secure 40,000 t of production capacity and achieving more than 200 billion won (USD 166 million) in revenue.

According to SKC, the company produces 180,000 t/y of propylene oxide (PO/SM) and 70,000 t/y of polyether polyols since December 1991. Additionally it has started production of 100,000 t/y of propylene oxide, based on a hydrogen peroxide system with Evonik Technics in August 2008.

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