18 April 2011 00:00 [Source: ICB]
New production will meet rising demand from paper industry
The new unit will be located next to Styron's existing latex manufacturing units at Zhangjiagang, and is scheduled to start up in the fourth quarter of 2012.
Styron, which announced last week it will change its name to Trinseo within the year, also has latex production in South Korea, Indonesia and Australia.
"The China market continues to show tremendous growth," says Chris Pappas, Styron's president and CEO. "Zhangjiagang is the ideal location for Styron to expand our latex production and offerings."
China's paper and paper board market is growing by about 6-7% per year, said Styron. The new investment will help customers move to higher value product formulations, and help the company optimize the value of its styrene derivatives production chain.
Capacity details and the investment cost were not disclosed but a company spokesman described the expansion as "significant."
Styron, a former division of Dow Chemical, was launched as a stand-alone company in June 2010 following its sale to private equity firm Bain Capital.
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