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SK Chemicals to Spend 230 Bln Won on New Production Line
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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.

Source Text

Source: Yonhap News (Dec. 21, 2012)