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Wacker acquires Korean silicone facility and opens Chinese plant
W
acker Chemicals Korea is acquiring the Lucky Silicone brand from Henkel Technologies, including a facility in Jincheon. It also recently opened a silicone polymer facility in Zhangjiagang, China, that manufactures intermediates and downstream silicone products, including fluids.In its South Korean acquisition, the Munich-based chemical company intends to keep on the site's existing workforce of some 40 employees. The brand comprises silicone sealants, manufactured and marketed for use in construction and other industries. Last year, it generated sales of EUR20 million.
Wacker, which has produced silicones in China since 2004, says its new plant in China is an integral part of Zhangjiagang's silicone production system and represents an investment of some EUR30 million. In 2009, Wacker posted sales of over EUR730 million in China, including Taiwan.