Lanxess: Strengthened Partnership with Hwaseung
German specialty chemicals company Lanxess AG, Leverkusen, and South Korea’s tier-one automotive supplier, Hwaseung Corporation, have further strengthened their business partnership. Both companies have signed a long-term agreement under which Lanxess will supply Hwaseung with premium EPDM rubber. Financial details were not disclosed. Furthermore, both companies will deepen their research and development efforts on specialty rubber applications. An agreement was signed at Lanxess’ “Rubber Day Korea” in Jeju by Guenther Weymans, Global Head of Lanxess’ Technical Rubber Products business unit, and Yoohwi Choi, Senior Vice President of Hwaseung Networks – a subsidiary of Hwaseung Corporation.
Ethylene propylene diene monomer (EPDM) synthetic rubber, sold under the brand name Keltan, is used above all in the automobile industry for door sealants. It is also used in the plastics modification, cable and wire, construction and oil additives industries.
Hwaseung Corporation is a leading supplier of rubber components and other materials to global automobile producers, including the Korean manufactures Hyundai and Kia. South Korea is already one of the top five automobile producers in the world.
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