# Kolon and BASF launch joint venture for POM production in Gimcheon

Kolon Plastics and BASF have launched Kolon BASF innoPOM, a joint venture in Gimcheon, South Korea, to produce polyoxymethylene (POM). The plant has a capacity of 70,000 tons per year, and combined with an existing facility, it becomes the world's largest single POM site at 150,000 tons per year. Each partner invested 30 billion won, with an additional 260 billion won invested since groundbreaking in April 2016.

- Type: Acquisition
- Announced: 2018-10-25
- Where: Gimcheon, North Gyeongsang Province, South Korea, South Korea
- Value: $70.2M (60.0B KRW)
- Status: completed
- Capacity: 70,000 tons of POM per year (150,000 tons combined)
- Products: polyoxymethylene (POM), Kocetal, Ultraform
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Kolon Plastics](https://endata.com/companies/24454.md)
- [BASF](https://endata.com/companies/298.md) (partner)
- [KOLON BASF innoPOM Inc.](https://endata.com/companies/35104.md) (target)

## Sources

- [koreaherald.com](https://www.koreaherald.com/article/1820645), 2018-10-25: "The latest (joint venture) is an exemplary case of synergy in the global chemicals industry created by collaborating strengths of two firms."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.