Addivant Expands Capacity in South Korea
Addivant 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.
According to the Company, this expansion is part of the overall Addivant 2018 strategy to invest and strengthen their global manufacturing sites to be in the position to meet 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.
Addivant is an international company, with 11 plants on five continents, as well as research, manufacturing and sales facilities around the globe.
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