Completion of Global Top 3 Scale with 150 Billion Won Investment
Taekwang Industrial, the flagship affiliate of Taekwang Group, is set to expand its soda ash plant, which is used as a raw material for gold and silver ore dressing, electroplating, and pharmaceutical manufacturing. Notably, the company plans to introduce direct raw material production technology, moving away from the existing method that utilizes by-products from the acrylonitrile (AN) production plant, thereby establishing a stable profit generation foundation.
On the 13th, Taekwang Industrial approved the agenda for expanding the Ulsan petrochemical soda ash plant at a board meeting held at its headquarters in Jangchung-dong, Seoul. The investment scale is approximately 150 billion KRW. By January 2027, the company plans to increase annual production by 66,000 tons, doubling its production capacity to 132,000 tons per year after the expansion.
Taekwang Industrial began soda ash production as a by-product alongside the launch of its acrylonitrile (AN) business in 1997. The production capacity, which was around 21,000 tons in the early stages, has been expanded several times and has reached an annual capacity of 66,000 tons since 2009.
With the plant expansion and the introduction of direct raw material production technology, the company will be able to operate independently regardless of the acrylonitrile (AN) market conditions, enabling stable profit generation. Once full-scale production is achieved, the soda ash production capacity will rise to the global top three, and the company expects to strengthen its market dominance by expanding sales in the African and Asian regions.
A Taekwang Industrial official stated, "This investment decision is aimed at improving the business profit structure and gaining a competitive edge in the global market," adding, "Through this expansion, the sales scale of the fine chemicals business is expected to increase from less than 10% to around 20%." The official also noted, "We anticipate economic added value and job creation effects in the local community."
Meanwhile, in addition to soda ash and acrylonitrile (AN) businesses, Taekwang Industrial, as the only comprehensive textile manufacturer in Korea, produces acrylic fibers?the first domestically produced acrylic fibers?as well as aramid, nylon, and spandex.
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