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Biz News Korea(Eng)
OCI embarks on operation of carbon black factory in China
- Collected
- 2016.09.09
- Distributed
- 2016.09.12
- Source
- Go Direct
The company said on Thursday that it held an opening ceremony for a carbon black plant located in Zaozhuang, Shandong province in Eastern China. The Korean company started to jointly build the factory with an annual output capacity of 80,000 tons with China’s Shandong Energy Zaozhuang Mining Group in 2014. The plant sits on a site of 130,000 square meters.
China has been luring auto parts makers across the globe to build their local factories in the country as it is the world’s biggest auto market. Accordingly, it is also the world’s largest tire market.
Carbon black is a material produced by the incomplete combustion of heavy petroleum products such as FCC tar and coal tar, and it is mainly used as a reinforcing filer in tires and other rubber products.
The business of carbon materials including carbon black accounts for about 30 percent of the company’s overall business, with sales of carbon black making up more than half of total sales of the carbon materials division. Shandong OCI Co., a local entity in China established by OCI in 2008, would supply raw materials for carbon black. The company plans to sell gas produced from the new carbon black production factory to a power plant of Shandong Energy Zaozhuang Mining Group.
By Jung Wook
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]