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Hanwha Chemical buys majority of TDI producer

2:04 PM MDT | September 1, 2014

Hanwha Chemical (Seoul) is acquiring a 50.71% stake in KPX Fine Chemical (Yosu, South Korea) for 42 billion South Korean won ($41 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 Yosu 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 Yosu. KPX has capacity to produce...

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