SK Chemicals invests 130 billion won to acquire assets of Chinese chemical pet recycling companies
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-03-06 19:33:34
[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Chemicals announced in a board meeting on the 6th that it has signed a contract to acquire assets related to chemical recycling raw materials and chemical recycling pet business of Shuye, a Chinese green materials company, for 130 billion won.
The acquisition targets included a depolymerization plant that chemically decomposes waste plastics to produce recycled materials and production facilities that make pets by injecting chemical recycled materials produced here.
Through this acquisition, SK Chemicals will have a commercial production system of chemical recycled raw materials and products with depolymerization technology about 1∼2 years faster than domestic companies.
Chemical recycling refers to the decomposition of waste plastics through pyrolysis processes, extracting raw materials, and producing compounds. The chemical recycling pet market is expected to grow to 4.6 million tons (10 trillion won) by 2030.
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