Celanese expands marketing portfolio of polyoxymethylene (POM) after the restructure of Korea Engineering Plastics (KEP), a 50/50 joint venture with Mitsubishi Gas Chemical Company, according to a recent press release.
KEP was established in 1987 to manufacture POM in Asia, focusing on domestic demand in South Korea.
The recent restructure means KEP “will now focus solely on manufacturing and supplying quality products to its shareholders, who will independently market them globally and without competitive restrictions,” said the press release.
“With the completion of this restructuring, Celanese now has access to world-scale POM polymerization capabilities globally, with committed access to approximately 70kta of POM production in Asia and corresponding global marketing rights,” said Tom Kelly, Senior Vice President, Celanese Engineered Materials.
Celanese Corporation is an American technology and specialty materials company headquartered in Irving, Texas.
POM, also known as acetal or polyacetal, is an engineering thermoplastics used to make gears, sliding parts, and housing parts and many other applications.