# DL Chemical and RexTac launch joint venture Direx Polymer for APAO production

DL Chemical and US-based RexTac established a joint venture named Direx Polymer, with DL Chemical holding a 74% stake. The joint venture will invest 150 billion KRW to build a 40,000-ton-per-year APAO plant in Yeosu, South Korea, with commercial production starting in the first half of 2023.

- Type: Partnership
- Announced: 2021-09-09
- Where: Yeosu Industrial Complex, South Korea, South Korea
- Value: $127.5M (150.0B KRW)
- Status: announced
- Capacity: 40,000 tons per year
- Products: amorphous poly alpha olefin (APAO) hot melt adhesives
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Direx Polymer](https://endata.com/companies/57628.md)
- [DL Chemical](https://endata.com/companies/55405.md) (partner)
- [REXtac](https://endata.com/companies/55824.md) (partner)

## Sources

- [asiae.co.kr](https://www.asiae.co.kr/en/article/2021090913360947029), 2021-09-09: "Direx Polymer will have a total investment of 150 billion KRW, with DL Chemical acquiring a 74% stake in the company."

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