On June 17, SK Geo Centric (SKGC) held a groundbreaking ceremony for its high value-added chemical material Ethylene Acrylic Acid (Primacor EAA) Plant 3 in Lianyungang, Jiangsu Province, China. The ceremony was attended by SK Geo Centric CEO Na Kyung-soo, Zhejiang Satellite Petrochemical (STL) Chairman Yang Wei Dong, the Party Secretary of Lianyungang City Ma Shi Guang, and officials from both companies and local government. Last August, SKGC signed the contract to establish a joint venture for EAA production with STL in China, and also signed an investment agreement with the Lianyungang Petrochemical Complex in Xuwei.
Primacor EAA is a type of high-performance adhesive copolymer resin produced by only three to four global chemical companies. It has excellent bonding performance for dissimilar materials such as metals and plastics, or paper and plastics. SKGC is the only company capable of commercial production of High Acid EAA, a high-quality product grade that exhibits outstanding adhesive performance.
With the groundbreaking of the EAA Global Plant 3, SKGC is accelerating its efforts to secure the only EAA production plant in Asia. Though EAA is currently being predominantly imported from China, it is expected to be able to replace imports from the end of 2025 as SKGC’s EAA plant 3 embarks operation. The third plant aims to be completed by 2025 and SKGC seeks to grow its presence in the global market of high value-added materials by building the 4th EAA global plant as well.
(Photo 1,2) CEO of SK Geo Centric Na Kyung-soo, Zhejiang Satellite Petrochemical Chairman Yang Wei Dong, the Secretary of the Municipal Party Committee of Lianyungang Ma Shi-guang, and officials from both companies and local government took commemorative photos after the declaration of the groundbreaking ceremony for EAA Global Plant 3 at Xuwei Xinqu EAA production plant in Lianyungang, Jiangsu Province, China on June 17.
(Photo 3) CEO of Geo Centric Na Kyung-soo (center) delivers a commemorative speech at the groundbreaking ceremony of the EAA Global Plant 3 at Xuwei Xinqu EAA production plant in Lianyungang, Jiangsu Province, China on June 17.
(Photo 4) CEO of Geo Centric Na Kyung-soo (center) looks around the EAA Global Plant 3 at Xuwei Xinqu EAA production plant in Lianyungang, Jiangsu Province, China on June 17.