A plant expansion in Singapore and asset sale to Thailand are set to boost the Asian chemical economy.
Infineum's Jurong Island plant Image: CNOOC |
The expansion news comes from UK-based Infineum which is set to start construction of a new salicylate manufacturing facility on its existing Singaporean Jurong Island plant. The construction will, according to Infineum, be the largest single investment in the company's history.
Building will start during Q1 of this year, with operational start-up slated for the end of 2013. The plant will produce calcium salicylate, a detergent additive used in Infineum's high performance car and heavy-duty engine oil formulae, as well as marine oil additive. Output is aimed at the Asia Pacific market as well as supporting the company's global supply where needed.
Meanwhile, Illinois' additives producer, Old World Industries, has announced the sale of its Texas-based chemical operations to Thailand's Indorama Ventures. Production of Old Worlds PEAK® branded products will remain unaffected, with the sale of the Clear Lake manufacturing plant to include the Ethylene Oxide and Ethylene Glycol facilities.
Indorama is a leading producer in the polyester supply chain, with almost 9,000 employees worldwide and revenues of $5.5bn over the past 12 months. The company will enter into a long-term contract to supply Old World with glycol for its US antifreeze production.