Kolon BASF innoPOM Co., Ltd. (Kolon BASF innoPOM) is a joint venture between Kolon Plastics and BASF. The company started production of a new polyoxymethylene (POM) plant in Kimcheon, South Korea.
The plant has an annual production capacity of 70,000 tons, which, combined with the existing Kolon plant, creates the world's largest POM production facility.
The US $ 220 million plant started construction in April 2016 and lasted 27 months without any safety or environmental incidents.
The plant combines BASF's stringent quality control systems and energy-saving technologies with Kolon Plastics' efficient and stable production capabilities.
The sharing of production facilities and the independent production system tailored for each company's customers will achieve a highly competitive form of cooperation. Kolon Plastics' Kocetal and BASF's Ultraform will use the technologies of the two companies to produce them at the new plant.
Raimar Jahn, President of BASF's Performance Materials Division, said: "The new plant we have built with Kolon Plastics sets the industry benchmark for POM production. It uses innovative environmental management standards to increase production efficiency and reduce energy consumption. With BASF in Asia With the start of POM production, we will be able to provide a stable and high-quality POM supply to the Asia Pacific region and the rest of the world. "
Yeong-Bom Kim, joint representative of Kolon BASF innoPOM and representative director of Kolon Plastics, said: "The joint venture takes full advantage of the two companies and is a partnership where partners work together to generate significant synergies and strengthen our global market position. A good example. We want to continue building partnerships in other business areas. "