24 June 2005
24 June 2005
The Dow Chemical Company has completed the acquisition of Pacific Epoxy Co., Ltd., a manufacturer of converted epoxy resins in Korea, from Saehan Industries, Inc.
Dow had previously acquired 80 percent of Pacific Epoxy Co., Ltd. in January 2001. The current agreement is for the remaining 20 percent of the company.
Dow now becomes 100 percent owner of the Pacific Epoxy Co., Ltd. facility in Kumi, Korea. The 30,000 MT (66 million lbs) per year converted epoxy resin (CER) plant currently supplies brominated, solid, and solid-solution epoxy resins for use in protective coatings, electronics and specialties.
“This acquisition highlights Dow’s commitment to the epoxy industry and the important role that the Asia Pacific region will continue to play for Dow and our customers,” said Patrick Ho, business vice president of Dow Epoxy Products & Intermediates (EP&I). “The Asia Pacific region is an important growth market for our business, as rising incomes in this area have created higher demand for products that use epoxy resins – such as infrastructure, personal computers, mobile phones and automobiles. Our investment today complements our already strong, established presence in the Asia Pacific market and strengthens our leadership in this region.”
Dow currently operates three epoxy manufacturing facilities in the region, including a 40,000 MT/year (88 million lbs) facility in Kinu Ura, Japan, a 41,000 MT/year (90 million lbs) facility in Zhangjiagang, China, and the Pacific Epoxy Co., Ltd. Kumi facility in Korea. Earlier this year, Dow announced its plan to build a state-of-the-art R&D Center in China to better serve its customers.