SK Chemicals Announces Acquisition of Chemical Recycling Assets
$100 million acquisition will facilitate entry to recycled PET market.
SK Chemicals, of South Korea, announced an agreement to purchase recycling assets of Shuye Chemicals of China. The assets include a depolymerization plant that breaks down waste PET to produce BHET (Bis[2-hydroxyethyl] terephthalate), as well as a PET production facility that can process the BHET into new PET.
Water bottles made from chemically recycled BHET and chemically recycled PET
Photo Credit: SK Chemicals
SK Chemicals anticipates that the location of the plants in China, where reclaimed PET is in abundant supply, will provide price competitiveness in a growing market for recycled materials. The company plans to supply chemically recycled PET to food and beverage markets, as well as for specialty fibers in industrial applications.
SK Chemicals is also continuing to develop its depolymerization technology for recovering teraphthalic acid, from PET waste.
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