Kolon Chemical & Georgia-Pacific Resins Joining Hands in SIP
The ceremony on the formation of the Joint Venture in SIP between Kolon Chemical Co., Ltd. (Korea) and Georgia-Pacific Resins, Inc.(U.S.A.) on JAN. 18, 2005.
Kolon GP Chemical (Suzhou) Co., Ltd. held a celebration of the formation of the Joint Venture in China between Kolon Chemical Co., Ltd.(Korea) and Georgia-Pacific Resins, Inc.(U.S.A.) on January 18, 2006 at their Suzhou Plant.
Mr. Joon-Soo, Han (President of Kolon Chemical Co., Ltd.), Mr. Richard Urschel (President of Georgia-Pacific Resins, Inc.) and other staff members of the two companies attended the ceremony announcing the strategic alliance in China to their customers and government officials.
Kolon Chemical (Suzhou) was established by Kolon Chemical in March 2005 as a first step towards becoming a global company with a presence in China. This is the first specialty phenolic resins production facility in China and has an operating capacity of 18,000 MT/year. Phenolic resins, which have properties of heat and fire resistance (and in some cases chemical resistance), good dimensional stability, and easy processing capabilities, are used widely as an industrial raw material for application in Laminates, Refractories, Composites, Brakes, Foundry, Coatings, Abrasives, Paint and Ink, Adhesives, PCB, Semi-conductor encapsulation. Phenolic resins are also used as an intermediate of Epoxy resin.
Last December, Kolon Chemical Co., Ltd. of Korea, and Georgia-Pacific Resins, Inc. (GPRI), a subsidiary of U.S.-based Georgia-Pacific Corp., announced that they had reached an agreement in which GPRI purchased an ownership stake in Kolon Chemical (Suzhou) Co Ltd, and became a shareholder partner. The agreement includes joint ownership of the state-of-the-art thermosetting resin manufacturing facility in Suzhou Industrial Park, located in the Jiangsu Province of China, near Shanghai.
The new joint venture, operating as Kolon GP Chemical (Suzhou) Co., Ltd., follows a strategic alliance entered into by Kolon and GPRI in December, 2003. Through the alliance, the companies increased their presence in the industrial resins markets in the United States, Brazil, China, Japan and Korea. Kolon began manufacturing phenolic resins at the Suzhou facility in November, 2004, to serve the tire, automotive, electronics, insulation, and laminate industries.
Kolon Chemical Co., Ltd. was established in 1976 via the joint venture of Kolon Industries, Inc. and Nippon Petrochemical Co., Ltd. Kolon Chemical holds the leading position in Korea's specialty chemicals market with product lines such as hydrocarbon resins, super absorbent polymers, phenolic resins, and fine chemicals. Kolon Chemical's parent company, the Kolon Group, was established in 1954, and today is a leading business in Korea. In addition to plastic and specialty chemicals, Kolon is also active in the synthetic yarn, fabric, industrial materials, film, electronic materials, membranes, and bioengineering markets. Kolon is one of the leading chemical groups in Korea with total annual sales of approximately $3.4 billion and over 8,400 employees. For more information, visit www.kolon.co.kr.
Georgia-Pacific Resins is a leading supplier of thermosetting resins and chemicals used in building products, paper making and specialty industrial applications. It operates 15 chemical plants in the United States, two in Brazil, and one in both Chile and Argentina, as well as a joint venture in South Africa.
Georgia-Pacific, is one of the world's leading manufacturers and marketers of tissue, packaging, paper, pulp, building products and related chemicals. The company employs approximately 55,000 people at more than 300 locations in North America and Europe. Its familiar consumer tissue brands include Quilted Northern®, Angel Soft®, Brawny®, Sparkle®, Soft 'n Gentle®, Mardi Gras®, So-Dri®, and Vanity Fair®, as well as the Dixie® brand of disposable cups, plates and cutlery. For more information, visit www.gp.com.
Jan. 18, 2005.