Iksan, Korea – Polyester polyol to PU additives supplier Seotech has plans to become a fully-fledged systems house, Meong-jong Choi said on 5 September 2017.
Choi speaking exclusively to UTECH-polyurethane.com and Polyurethanes World said that the firm could derive up to 30% of its revenue from such a venture in the short term.
He suggested that this could concentrate on product areas such as building insulation ‘panel, board and spray foam,’ he said.
‘We make many products and want to become a systems house,’Choi said. He continued ‘we started 10 years go, but it was very small quantities, three years ago we started selling product into the panel, board and spray markets and have a number of customers.’ He declined to name them because they had not given him permission.
Choi expects the business to grow strongly in the next few years. ‘They [systems] make up less than 10% of sales but could be 30% in a few years. Flame retardant products will ‘grow very fast,’ he added.