Home / Knowledge / News / Textiles / Arkema in JV with Jurong Chemical for acrylic acid
Arkema in JV with Jurong Chemical for acrylic acid
23
Jan '14
Arkema and Jurong Chemical, China’s leader in acrylic acid, announce the creation of Sunke, a joint venture in which Arkema will have a majority interest, comprising the assets of Jurong’s acrylic acid production site in Taixing opened in 2012.

This acquisition, in the wake of Arkema’s recent startup of its coating resins and Coatex production plants on the Changshu site, will enable the Group to accelerate the development of its Coating Solutions segment in China and in Asia and to assist its customers in particular in fast-growing markets such as super-absorbents, paints, adhesives, water treatment, etc.

It represents a new milestone in Arkema’s growth strategy and the achievement of its 2016 targets, in particular by strengthening the Group’s position in high growth countries. Finally, it provides the Group with a highly competitive acrylic monomer industrial footprint in Asia. Production capacity for Arkema initially will be 160,000 t/year for a $240 M investment, with the option to raise it without delay to 320,000 t/year for a further $235 M investment.

Commissioned in 2012, the Taixing site is a modern and competitive industrial complex. 200 km west of Shanghai, on the banks of the Yangtze River, it benefits from an excellent location both to secure its raw materials supply and to serve its customers in China and in Asia. China’s leading acrylic acid production site, it currently has a 320,000 t/year installed capacity, with two world-scale production lines.

The competitiveness of this site will be further strengthened by the commissioning of a third line with a 160,000 t/year capacity, due to start up in 1st quarter 2015. With a 480,000 t/year capacity, the Taixing facility will thus become one of the world’s largest acrylic acid sites.

When the deal closes later this year, Arkema will have access to half of the site’s installed production, namely 160,000 t/year, for a $240 million investment.

When the third line comes on stream, Arkema will have the option to access 2/3rd of the site’s acrylic acid installed capacity, namely 320,000 t/year, for an additional $235 M investment. In a full year, sales corresponding to both these lines are estimated at around $600 M. Finally, Arkema has a further option in the next 5 years to potentially acquire the remaining third of the acrylic acid production capacities, at a cost of $165 M.

Click here to read more

Arkema

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search