KolonOLON BASF innoPOM Inc., the 50:50 joint venture between Kolon Plastics and BASF started operations at its 70,000 metric tons per year capacity new polyoxymethylene (POM) production plant in Gimcheon, Korea. The installation of the new plant with a capacity of 70,000 metric tons per year, combined with Kolon Plastics’ existing annual POM production capacity of 80,000 metric tons, resulted in the world’s largest POM production facility, with a total annual capacity of 150,000 metric tons. Construction of the plant took 27 months from the start in April, 2016. The plant with an investment of KRW 260 billion (approximately USD 220 million) was built without any safety or environmental incidents.
BASF’s stringent quality control system and energy-saving technology with Kolon Plastics’ highly efficient and stable production capabilities and has provided a plant that is capable to produce best-in-class POM products. Kolon BASF innoPOM will support Kolon Plastics and BASF with a stable supply of POM.
Raimar Jahn, President, Performance Materials, BASF, said, “The new plant we have built together with Kolon Plastics sets an industry benchmark for the production of POM. It employs innovative environmental management standards that improve production efficiency, resulting in less energy use. With BASF’s first POM production in Asia, we will be able to provide a stable supply of high-quality POM to the Asia Pacific region, as well as to the rest of the world.”
Yeong-Bom Kim, joint-representative of Kolon BASF innoPOM and Representative Director of Kolon Plastics, commented, “The joint venture leverages the strengths of each company and is a great example of how partners can work together to generate significant synergies and strengthen our global market position. We hope to continue this partnership in other areas of business as well.”