SEOUL -- Kolon Industries, a chemical and textile manufacturing company in South Korea, forged a strategic partnership with SK Global Chemical to produce an eco-friendly biodegradable plastic product called PBAT and promote a business model for the production of recycled products using waste plastic as raw materials.,
Polybutylene adipate terephthalate (PBAT) is a biodegradable random copolymer marketed as a fully biodegradable alternative to low-density polyethylene. PBAT makes it ideal for combination with other biodegradable polymers that have high elastic modulus and strength.
Kolon Industries and SK Global Chemical work together to develop high-quality PBAT products and secure an annual production capacity of more than 50,000 tons by 2023. They would try to acquire certification and patents and develop prototypes by the first half of this year.
SK Global Chemical would apply PBAT and technologies to the production of eco-friendly packaging materials. "SK Global Chemical will cooperate with Kolon Industries to secure discriminatory competitiveness in biodegradable plastic markets and quickly establish an eco-friendly plastic circulation system," SK Global Chemical CEO Na Kyung-soo said in a joint statement on April 7.
Kolon Industries would share PBAT production and facility operation based on nylon and polyester production technologies to create high-quality PBAT products with raw materials from SK Global Chemical. "We expect synergy between the two companies to build an eco-friendly plastic ecosystem," said Kolon Industries CEO Jang Hui-goo.
The two companies would push for a plastic circulation system by promoting a cooperative business model that produces recycled products using waste plastic as raw materials.
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