Specialty chemicals and materials producer Huntsman Corp. is launching a new joint venture, Huntsman Polyurethanes Automotive Co. Ltd. (KHPUA), with Korean polyols supplier KPX Chemical to develop new innovative polyurethane systems solutions for Korea’s auto industry, a recent company release announced. The entity will start to produce its offerings at KPX’s Ulsan, Korea manufacturing site this month.
“Korea is one of Huntsman’s key markets in Asia and driving continued business growth in the automotive industry is a priority for us,” said Tony Hankins, president of the American firm’s Polyurethanes division and CEO of Huntsman Asia Pacific, in a statement. “The new joint venture will create and provide customized polyurethane systems solutions to meet local automotive customers’ needs to improve comfort, superior acoustics, and light-weighting. By creating value for its customers, KHPUA will enable downstream polyurethanes businesses to develop in a more sustainable way, both economically and environmentally.”
Huntsman will contribute its expertise in developing MDI-based automotive solutions to the joint venture, while KPX will offer over four decades of experience in polyol technology.
Powder & Bulk Solids recently reported that Huntsman is launching a multi-million expansion project to increase capacity for polyurethane catalysts and specialty amines at its Petfurdo, Hungary plant.