KOREA (SOUTH): Kumho Petrochem to acquire 50 % interest held by JSR in Its Kumho Polychem jv
Kumho Petrochemical recently agreed to purchase the 50 % stake of Kumho Polychem held by its joint venture partner, JSR, making Kumho Petrochemical the sole owner from July 2021 onward.
Kumho Polychem, established in 1985, has a production capacity of 220,000 t/y of ethylene propylene diene monomer (EPDM). It also produces thermoplastic vulcanizate, and other materials used in automotive and other industries. Value of the transaction was not disclosed.
“This decision was made to enhance the group’s competitiveness as a whole, based on the competence that Kumho Petrochemical has built in the synthetic rubber industry over the years,” Kumho Petrochemical noted. “Kumho Petrochemical will strive to elevate Kumho Polychem’s corporate value through a more rapid and more organic decision making.”
Source: Weekly “PetroChemical News”, Durham, NC, USA; 28 June 2021
(Syed Rashid Ali, Karachi, Pakistan)