SI Group: Investments in antioxidant production in the US
SI Group has announced plans to invest more than USD 50 million across three manufacturing sites in North America to install globally competitive main antioxidant capacity. The company said that this investment demonstrates its commitment to the expanding U.S. chemical market, with a focus on supplying strategically located, critical raw materials to key partners in the region. With SI Group’s current extensive antioxidant manufacturing footprint in the U.S. and backward integration, this planned expansion will increase its security of supply by offering a fully integrated portfolio of phenolic antioxidants in the U.S. These additives are broadly used in growth segments such as food packaging, automotive, construction, adhesives, and other applications.
“This capacity expansion plan is a direct result of our focused efforts on growth and responding to our customers’ needs. The investment will increase domestic capacity and security of supply for our customers and strengthen SI Group’s position as a partner of choice,” said Chuck Reardon, SI Group’s VP – Plastics Solutions. “We are pleased to be in a position to invest in SI Group’s capacity and support the success of our customers as well as bring new manufacturing and product capabilities and manufacturing jobs to our local communities.”
The new capacity is expected to come online in the second half of 2022. These projects are expected to create short-term construction jobs, followed by permanent manufacturing jobs once construction is complete. With projected growth in the polyolefins market in the U.S., the expansions will enable SI Group to increase its domestic supply to match growing demand, and further strengthen its position as a key partner to its customers.