In November 2014 SKC’s senior management team met Simon Robinson in Seoul to set out the company’s vision for growth in the global polyurethane business. SKC and Mitsui subsequently announced that they were planning to joint venture their complementary PU businesses.
“We want to become one of the most respected polyol players in the world. We are not that big a company, but were growing exponentially, Ki Don (KD) Won, SKC’s senior vice president said in an interview in the firm’s Gangnam, Seoul, headquarters.
His company is using a three-pronged approach to take the business global, extend its product reach into high-value goods sector and address growing concerns about sustainability while fighting off polyol imports from other countries.
Taking the planned capacity expansion and growth into wider markets first, Won said: “Our propylene oxide capacity is not sufficient for downstream polyols to become a world scale company, so we are planning to expand our propylene oxide (PO) capability and we are targeting mechanical completion for the second quarter of 2017.”
This was reported in the December 2014/January2015 issue of Urethanes Technology International, and UTECH-polyurethane.com.
There are two reasons for the increase in capacity, he said
Firstly, the “PU market is increasing at a compound annual growth rate of about 4%….