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According to Yonhap News,
SK Chemicals Co., a South Korean pharmaceutical and chemicals manufacturer, said
Friday that it will invest 230 billion won (US$214 million) to build a new
production line for a cutting-edge plastic.
The production line with an
annual capacity of 12,000 tons of ployphenylene sulfide (PPS) is scheduled to be
completed in the company's Ulsan complex, 414 kilometers southeast of Seoul, by
the second half of 2015, SK Chemicals said. The plastic is used as parts of
vehicles and electronics.
In 2017 when SK Chemicals is due to start
commercial production of PPS, its sales of PPS are predicted to reach 140
billion won, the company said.
As of this year, the volume of PPS
global market is estimated at 94,000 tons, but it is forecast to rise to 100,000
tons in 2019, the company said.
"We are aiming to increase our global
PPS market share to up to 20 percent by 2019," an official at SK Chemicals
said.
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