Addivant Announces Completion of Phase 1 of Capacity Expansion at Its Production Facility in Pyongtaek, South Korea
February 12, 2014 - Connecticut, Middlebury, United States
Addivant has announced the completion of its first stage of a series of capacity expansions at its production facility at Pyongtaek, South-Korea. The capacity of ALKANOX® 240, phosphite antioxidant has been increased by 40%. Further expansion is currently under progress and is scheduled to be completed by early 2015.
“This expansion is part of the overall Addivant 2018 strategy to invest and strengthen our global manufacturing sites to be in the position to meet our customers growing demands for polymer additives. Polymer production is expected to continue to expand ahead of GDP with strong regional growth in North America, Middle East and Asia. As the only producer with chemical production and form-giving capacity in all three regions, we are uniquely positioned to service our customer’s requirements globally.” said Peter Smith, President and CEO of Addivant. Smith went on to say: “ALKANOX® 240, ANOX® 20 and ANOX® PP18 represent key build building blocks of our ANOX® NDB® products which are increasingly being selected by leading companies around the world as a solution to eliminate dust and improve the operational efficiency of their facilities.”
Addivant is an innovator in the field of polymer additives developing customized solutions that address customers’ specific requirements for application performance, safe handling and cost reduction. The company offers its blended solutions in both solid form (ANOX® NDB®) and liquids (WESTON® and ANOX® liquids). Addivant is recognized industry-wide for its extensive portfolio of specialty additives including antioxidants, light stabilizers, rubber additives, polymer modifiers, polymerization inhibitors and intermediates. Addivant is an international company, with 11 plants on five continents, as well as research, manufacturing and sales facilities around the globe. Addivant maintains its global headquarters in Connecticut, USA, with regional headquarters in: Al Jubail, Saudi Arabia; Basel, Switzerland and Shanghai, China. Addivant is an independent portfolio company of SK Capital. Visit www.addivant.com for more information.
ANOX®, ALKANOX®, LOWILITE®, LOWINOX®, NAUGARD®, NDB®, OCTAMINE®, POLYBOND®, ROYALTUF®, ULTRANOX® and WESTON® are brand names of AddivantTM.
CONTACTS : Addivant Sergio Palumbo +41 79 607 8112 Sergio.firstname.lastname@example.org
Source: Business Wire India