SK Geo Centric (SKGC) held a momentous ceremony on June 17 in Lianyungang, Jiangsu Province, China, marking the commencement of construction for its advanced chemical facility, Ethylene Acrylic Acid (EAA) Plant 3.
Attendees included SK Geo Centric CEO Na Kyung-soo, Zhejiang Satellite Petrochemical (STL) Chairman Yang Wei Dong, Lianyungang City's Party Secretary Ma Shi Guang, along with officials from both companies and the local government.
In August of last year, SKGC forged a partnership with STL to establish a joint venture dedicated to EAA production in China. Additionally, they inked an investment agreement with the Lianyungang Petrochemical Complex in Xuwei.
EAA represents a highly coveted adhesive copolymer resin with exceptional properties, and it is solely manufactured by three to four global chemical enterprises. This specialized material boasts remarkable bonding capabilities, particularly for dissimilar materials like metals and plastics, or paper and plastics.
Notably, SKGC stands as the sole company capable of commercially producing High Acid EAA, an esteemed product grade renowned for its outstanding adhesive performance.
With the groundbreaking ceremony of EAA Global Plant 3, SKGC propels its efforts to secure the sole EAA production facility in Asia. Although China currently accounts for the majority of EAA imports, SKGC anticipates replacing these imports by the end of 2025 upon the commencement of operations at EAA Plant 3.
The third plant is slated for completion in 2025, and SKGC has aspirations to further expand its global presence in the high value-added materials market by constructing the fourth EAA global plant.
