09 June 2005 15:21 [Source: ICIS news]
LONDON (CNI)--Plans for a major expansion of its methacrylates capacity in North America were announced on Thursday by German specialty chemicals company Degussa.
Degussa said it will increase methyl methacrylates (MMA) capacity at Fortier, Louisiana by 20,000 tonne/year from a current 140,000 tonne/year bringing its worldwide MMA capacity to 480,000 tonne. It also plans to build its first methacrylic acid plant at the site, a unit with a capacity of 20,000 tonne/year due for completion in 2006.
Degussa declined to disclose the capital cost of its investments at Fortier, a site operated by its wholly-owned subsidiary Cyro.
The expansion plans have been announced within a couple of months of Degussa taking full control of Cyro by paying joint venture partner Cytec $95m (Euro74m) for its 50% stake.
"With the acquisition of Cyro and the expansion of the production facilities we are sending a clear signal of our market presence in America and our global growth strategy," said Gregor Hetzke, head of Degussa's methacrylates business unit.
MMA and specialty monomers are used in a wide variety of applications such as scratch-proof paints, adhesives and vehicle interior trims.
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