Paris/Tokyo,
February 9, 2001 - Rhodia and Asahi Kasei announced today
the signature of a long term adipic acid manufacturing
agreement. The two partners will invest to increase by
65kt per year the existing capacity in Onsan, South Korea,
where Rhodia already operates an adipic acid unit. Asahi
Kasei will hold rights to 50kt capacity in the new production.
This investment will start-up in the fourth Quarter of
2002.
Rhodia will benefit from the supplying
by Asahi of cyclohexanol for its adipic acid production
in Onsan. For this purpose, Asahi will implement an
investment in its own cyclohexanol plant at Mizushima,
Japan.
The target of this partnership is to
build-up in South Korea the world’s most competitive
adipic acid production through economies of scale, superior
technology and upstream integration.
This expansion will allow both companies
to keep the leadership in Asia in the fast growing market
of adipic acid for polyamide 66 and polyurethanes applications.
Asahi and Rhodia will continue to sell the product under
separate channels and tradenames.
Rhodia is one of the world’s leaders
in specialty chemicals providing products and services
to the automotive, health care, fragrance, apparel,
electronics, personal care and environmental markets.
Rhodia generated net sales of 7.4 billion euros in 2000
and employs 30,000 people worldwide. Rhodia is listed
on the Paris and New York stock exchanges.
Asahi Kasei Corporation is one of Japan’s
leading chemical companies, with consolidated sales of 1,190
billion yen in operations ranging from chemicals and fibers
to LSIs, housing, and pharmaceuticals, and employing 27,000.
Its chemical and plastic products include nylon and other
engineering plastics, as well as acrylonitrile, styrene, and
other essential monomers.
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