Polyplastics, Mitsubishi Gas Chemical and Ticona Expand Presence in Asia
Plan to Build 60,000 ton Polyacetal Plant in China
Polyplastics Co. Ltd., Mitsubishi Gas Chemical Company Inc. (MGC) and Ticona, a business of Celanese AG, - directly or through their affiliate companies - jointly announced plans to expand their presence in the Asia/Pacific region by building a world-scale 60,000 metric ton polyacetal facility in China. The plant is scheduled to come on stream in 2004.
The plant will be located in Nantong, Jiangsu province, just north of Shanghai. A Letter of Intent was recently signed with the Chinese Administrative Committee of the Economic and Technological Development Area of the Nantong Municipality for the land acquisition. The Project proposal has been approved by the Jiangsu province and the parties expect approval of the overall project by the authorities in the summer of 2001.
The key driver for the decision to locate a plant within China is the anticipated market growth rate. The current market for polyacetal in China is estimated to be in excess of 100,000t/yr.
This investment is being done by a consortium of engineering resins companies interested in the polyacetal market in China using a 100% foreign owned enterprise. Polyplastics will be the lead company with a majority of the equity and direction over the operations of the venture. MGC and Ticona will each have significant financial interests in the venture.
Acetal copolymer is a polyoxymethylene (POM) with a high crystallinity delivering high strength, stiffness, toughness, and lubricity over a broad range of temperatures and chemical environments. Acetal copolymer can be processed by many conventional means including injection molding, extrusion and rotational casting. Rod and slab stock made from POM can be easily machined. Acetal copolymer is used in a wide range of applications in markets such as Transportation, Industrial, Appliances, Information Technology and Consumer products.
Other news from the department
