PIE - News-Ticker on Plasteurope.com

Samsung Cheil: New European compounding facility in Hungary

As part of its expansion plans for Europe, Samsung Cheil Industries (Uiwang / South Korea; www.starex.co.kr), the plastics division of Korean conglomerate Samsung, is eyeing a compounding facility in Europe. In his New Year's address, CEO Hwang Baek said the company wants to sharpen its profile in high-performance materials for the automotive sector and LEDs.

The compounding plant is likely to be managed by sales subsidiary Samsung Chemical Europe (SCEG, Schwalbach / Germany), but a spokesman said it will be located in Hungary. No production capacity has been announced but test operation is scheduled for the end of 2010, and the official start-up for early 2011.

More news on Plasteurope.com...