Elf Atochem has signed an agreement with the Korean company Hanwha Chemical Corporation, a Korean petrochemical manufacturer, with a view to acquiring its acrylic activities in Jinhae, near Pusan, on the coast of South Korea.
The operation is subject to ratification by the relevant authorities.
The agreement covers the acquisition of:
- a 15,000 tpa plant for the production of acrylic resins, sold under the trade name Goldrex®.
- a 12,000 tpa plant for the production of acrylic and polycarbonate sheets, sold under the trade names Goldglas-ASCA® and Goldlite®.
The acquisition will enable the Elf Atochem subsidiary Atoglas, the world leader in Acrylic Polymers, to establish itself in Asia and to consolidate its development in this region.
This industrial venture in Korea further confirms Elf Atochem's strategy of development as well as consolidation of its worldwide positions in Performance Products.
Atoglas, the world leader in acrylic plastics with a turnover of FFr 3 billion in 1997, operates four sites in Europe (Carling and Bernouville in France, Rhô in Italy, and Leeuwarden in the Netherlands) and four sites on the American continent (Kensington, Bristol and Louisville in the United States, and Matamoros in Mexico).
Atoglas manufactures and markets acrylic products under the trade names Plexiglas® in the Americas, and Oroglas® and Altuglas® in Europe and the rest of the world. Atoglas also manufactures and markets Tuffak® polycarbonate sheets.
Polymethylmethacrylate features UV-resistance, transparency, and ease of processing. It is sold as granules for automotive and lighting applications, and as cast sheets for construction, sign manufacture and sanitaryware.
Polycarbonate sheets are transparent, lightweight and virtually unbreakable. They are particularly resistant to fire, and can easily be machined and shaped. They are used primarily in construction, industrial, and safety applications.
Donatienne van Nes Selz Tel: 33 1 49 00 70 29- Fax: 33 1 49 00 80 50
E-mail: donatienne.van-nes-selz@pari41l.elf-atochem.fr
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