SK Geo Centric & Weixing to Establish JV To Build EAA Production Plant in China

:: 15 Aug  2022 ::

Beijing—SK Geo Centric has signed an agreement with Weixing Chemical to form a joint venture that will construct a new ethylene acrylic acid (EAA) manufacturing facility in China to respond to Asian demand.

The joint venture plans to invest around KRW 290-billion to build a 40,000-t/y EAA unit in Lianyungang, Jiangsu Province.  The plant is scheduled to be completed in the first half of 2025.

SK Geo Centric will hold a 60% stake in the new joint venture, while Weixing Chemical will hold the remaining 40% interest.

“We will preempt the demand in China and Asia through the only EAA manufacturing plant in China,” said SK Geo Centric Chief Executive Na Kyung-soo.

“We will actively utilize SK Geo Centric’s technological prowess and marketing capabilities in Asia to strengthen our portfolio of high value-added chemical products and to be reborn as a global leader in the field of eco-friendly chemical materials.”

SK Geo Centric currently has EAA production sites in Texas and Tarragona, Spain, which it acquired in 2017 through the acquisition of Dow’s EAA business (PCN, 11 Sept 2017, p 1).

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