* SK Global Chemical completes its acquisition of Dow’s cutting-edge performance chemical, EAA
* SK Global Chemical: “A basis for our ascent to the forefront of the industry with the acquisition of a high-value packaging material.”
SK Global Chemical (CEO: Hyung-kun Kim) has announced the
completion of its acquisition of Dow’s Ethylene Acrylic Acid (EAA) business.
With this acquisition, SK Global Chemical has acquired
the rights to the production facilities of Freeport, Texas and Tarragona,
Spain, along with the production techniques, intellectual rights, and trademark
rights to the Dow’s EAA business, thereby rising to the forefront of the global
EAA business overnight.
After the signing of the EAA business’ sales contract
last February, SK Global Chemical has cooperated closely with the Dow in the
acquisition process. The merger of Dow and DuPont on August 31, 2017 finalized
the acquisition process.
A representative of SK Global Chemical has commented: “With
this acquisition, we have acquired a significant advantage in the up-and-coming
high-value packaging material industry, cementing our basis for our ascent to
the forefront of the industry in the future.”
SK Global Chemical has restructured its marketing
departments into two separate entities, namely, “Automotive Division” and “Packaging
Division,” which will take effect on August 1, to provide further support
toward its strategic focus areas of automotive and packaging businesses.