Kemira has signed an agreement to establish a joint venture with Yongsan Chemicals, a privately-owned chemicals company in South Korea. The JV, called New Co, will be located in Ulsan.
Helsinki/Finland — New Co will produce dry polyacrylamide (DPAM), cationic monomer Q9 (AMD), and other chemicals, which are used for retention and drainage in packaging and paper production, as well as in wastewater treatment and in sludge dewatering. Kemira will make a multi-million investment in the joint venture and will have 35 % minority share of the established company.
With the New Co's production site, the Finnish company can provide premium quality DPAMs supported by backward integrated high-quality AMDs. According to the company, this ensures a sustainable and cost-effective manufacturing capability, effectively fulfilling customer needs and requirements. It is also an important addition to balance the increasing demand for dry polymers globally, the company stated. Nichlas Kavander, SVP, Pulp & Paper, Apac, said that the joint venture accelerated their strategy and strengthens the company's position as a leading global polymer producer. It supported future growth, especially in Asia pacific region by providing additional polymer capacity, securing capacity utilization, he added.