Kolon Industries

SKC and Kolon Industries each agreed to sell their 27.03% stakes in SKC Kolon PI to Korea PI Holdings, a special purpose company set up by Glenwood Private Equity, for KRW 304 billion each. The transaction is expected to close by February 2020.

Kolon Industries Binh Duong Co. Ltd inaugurated a plant in Bau Bang industrial park, Binh Duong province, Vietnam, on September 18, 2018, to manufacture polyester tyre cord fabrics. The plant cost US$220 million and has an initial capacity of 1,400 tonnes per year.

Kolon Industries will increase aramid fiber production capacity by 50% to 7,500 tons annually at its Gumi plant in South Korea, by the first quarter of 2020, to meet growing demand. The investment amount was not disclosed.

Kolon Industries is investing 30 billion KRW to expand production of special epoxy resin and phenol resin at its Gimcheon 2 plant by September 2018, increasing capacity from 25,000 to 37,000 tons for epoxy and 7,000 to 12,000 tons for phenol.