USLAN, South Korea—SK Global Chemicals is closing down its EPDM rubber production plant in Uslan.
The move, according to a March 26 news report, is part of a "deep change" strategy to focus on high-value products and reduce the production of general-purpose chemicals, SK Global Chemicals said in a statement.
Operational since 1992, the EPDM unit has a production capacity of 30,000 metric tons per year, and is fed by Ulsan naphtha cracker, which also is being shut down.
The company said it started the process of closing down the 200,000 ton per year naphtha cracker in December, and will discontinue the EPDM unit in the second quarter of 2020.
The South Korean chemicals company cited oversupply and the old age of the facilities as part of the reason behind the closures.
The company said it plans to select a high-value packaging business as its "next-generation growth focus," and will secure a portfolio through related mergers and acquisitions.