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Signed a $100 million property purchase arrangement with Shuye of China; protected the world’s very first mass production system for recycled basic materials and animal
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The plentiful supply of recycled plastic basic materials allows SK chemicals to have the greatest level of rate competitiveness
SEONGNAM, South Korea, March 16, 2023 /PRNewswire/ — SK chemicals accelerates its entry into the worldwide market and business growth with the world’s very first chemically recycled BHET (r-BHET) of 70,000MT and chemically recycled animal (CR-PET) of 50,000MT production systems.
SK chemicals revealed on the sixth that it held a board of directors conference and signed a possession transfer arrangement associated to the chemically recycled BHET and chemically recycled animal business department of Shuye, a Chinese business concentrating on green products. The acquisition rate for this deal is around $100 million.
SK chemicals’ acquisition of Shuye’s properties consists of a depolymerization plant that chemically breaks down waste plastics to produce recycled BHET and a CR-PET production center that utilizes the r-BHET produced here to make animal once again, which can be offered independently. As an outcome, SK chemicals has actually protected the world’s very first commercially available polyester chemically recycled basic materials and production center, which can be offered independently.
Through the acquisition of Shuye’s properties, SK chemicals has actually obtained an industrial production system for chemically recycled BHET and items that make use of depolymerization innovation about 1-2 years ahead of other domestic business. By producing recycled plastic basic materials such as waste animal in China, where there is plentiful supply, SK chemicals is anticipated to get a high level of rate competitiveness.
Through this financial investment, SK chemicals has actually finished a recycled plastic worth chain that encompasses chemically recycled BHET, chemically recycled animal, and chemically recycled copolyester (CR-Copolyester), protecting the sustainability of copolyester, which is its core business, and preparing for brand-new development.
SK chemicals’ method is to provide chemically recycled animal to the domestic and foreign food and drink bottle markets, along with the food product packaging market. In addition, the business prepares to get in high-value-added markets, such as commercial specialized fibers, where making use of physically recycled animal is tough, and take the lead in the worldwide $7.6 billion market. The business likewise prepares to offer the chemically recycled BHET as a standalone item to polyester makers who wish to produce recycled items.
View initial material to download multimedia: https://www.prnewswire.com/apac/news-releases/sk-chemicals-to-take-the-lead-in-the-7-6-billion-recycled-pet-market-301772713.html
SOURCE SK Chemicals
