Page 160 - CW E-Magazine (27-2-2024)

News from Abroad

COMMERCIALISING BIO-NYLON
LG Chem and CJ CheilJedang form bio-polyamide JV

South Korea’s LG Chem has signed
a Heads of Agreement (HOA) with
Korean food and biotech group, CJ
CheilJedang, for the setting up of a
joint venture (JV) dedicated to the pro-
duction and sales of eco-friendly nylon
based on bio-based pentamethylenedi-
amine (PMDA) produced by ferment-
ing corn, sugarcane, and other crops.
The companies intend to be the first in
South Korea to establish a fully domes-
tic bio-polyamide supply chain.
CJ CheilJedang will produce PMDA
using microbial precision fermentation
technology and joint development tech-
nology between the two companies,
while LG Chem will polymerise it to LG Chem’s CEO, Mr. Hak Cheol thereby establishing itself as a leading
produce and sell bio-nylon. Shin, stated, “This agreement is signifi- company with pioneering leadership in
cant in that it represents cooperation the area of carbon reduction,” he added.
The JV was spurred by stricter between leading companies in their
environmental rules in Europe and the respective fields towards the common The global demand for bio-nylon is
US, including mandatory disclosure of goal of Net Zero.” “LG Chem will con- expected to record a high annual growth
scope 3 carbon emissions, LG Chem tinue to advance its plastics business rate of 29%, expanding from 0.4-mt in
said in a statement. using eco-friendly, low-carbon materials, 2023 to 1.4-mt by 2028.

INORGANIC GROWTH
Henkel to acquire US protective coating and sealing

solutions firm

Germany’s Henkel has signed an
agreed to acquire the US-based Seal
for Life Industries from Arsenal Capital
Partners (USA).

Seal for Life is a specialised supplier
of protective coating and sealing solu-
tions in a broad variety of infrastructure
markets such as renewable energy, oil
& gas, and water. The business offers
products such as heat-shrink sleeves,
viscoelastic coatings, epoxy & urethane
coatings, fire protection, insulation and
sound dampening coatings. The com-
pany operates globally and has gene-
rated sales of approximately €250-mn

160 Chemical Weekly February 27, 2024

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