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Mitsui-SKC joint-venture MCNS to add automotive polyurethane plant in India

Collected: 2017.02.22

Distributed: 2017.02.24

Source: Go Direct

The head of MCNS’ Indian subsidiary Seo Ho-seok (4th from left) and Andhra Pradesh chief minister Nara Chandrababu Naidu (3rd from left) pose for a picture after signing a memorandum of understanding last month. [photo by SKC]

Mitsui Chemicals & SKC Polyurethanes Inc. (MCNS), a joint venture of South Korea’s chemical company SKC Ltd. and Japan’s Mitsui Chemicals, will set up a facility called System House that produces polyurethanes for automobile parts in Chennai, India, SKC announced on Tuesday.

The construction of the Chennai System House is scheduled to begin next month and be completed within this year. It will have a capacity of producing 14,000 tons of polyurethane per annum, enough to go onto 900,000 to 1 million units of automobiles. MCNS plans to supply the chemical to Korea and Japan first and India later. Highly flexible polyurethane foams are applied widely for automotive parts from seats and interior trim to wheels.

Chennai in India is a place where some global manufacturers such as Hyundai Motor, Samsung Electronics, Toyota and Nissan have their operations.

MCNS, founded in July 2015, has been producing polyurethanes in 10 facilities in overseas countries including the United States, Mexico, China and Poland. The Chennai System House will be the company’s 11th polyurethane manufacturing base.

“We will expand the global presence of MCNS by doubling the number of overseas manufacturing bases by 2020 especially in regions expected to grow fast,” said an official from SKC.

Shares of SKC closed Wednesday at 32,800 won, down 1.8 percent or 600 won from the previous session.

By Jung Wook

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