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Regions :: North Asia :: Korea
Hanwha Chemical acquires majority stake in TDI producer KPX
10:18 AM MDT | August 18, 2014 | Natasha Alperowicz
Hanwha Chemical (Seoul) is acquiring a 50.71% stake in KPX Fine Chemical (Yeosu, South Korea) for 42 billion South Korean won ($40.8 million). The transaction is expected to close by 1 October. The remaining shares in KPX are listed on the stock exchange. KPX produces toluene diisocyanate (TDI) and hydrochloric acid at its Yeosu manufacturing complex. Hanwha is a major supplier of chlorine to KPX. Huchems Fine Chemical, Korea’s only producer of dinitro toluene, supplies this raw material to KPX from its plant, also located at Yeosu. KPX has...
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