Teams up with U.K. Chemical Giant Ineos
SK picglobal has signed a memorandum of understanding with Ineos Styrolution of the United Kingdom to jointly promote the renewable styrene monomer (SM) business.
A signing ceremony was held between Won Ki-don, CEO of SK picglobal, and Arndt Kotyczka, vice president Styrene Monomer, INEOS Styrolution, in Seoul on Nov. 7.
SK picglobal is a joint venture between SKC and the Kuwaiti national petrochemical company, Petrochemical Industries Company (PIC).
Ineos Styrolution is a styrene business affiliate of Ineos, a global chemical company headquartered in the United Kingdom. SM is a basic building block of the plastics industry.
Through this agreement, the two companies will build an ecosystem for production and utilization of eco-friendly SM. SK picglobal will produce SM using materials produced based on eco-friendly raw materials such as bio-derived raw materials and plastic waste pyrolysis oil.
Ineos Styrolution will roll out ABS and other products with eco-friendly SM supplied by SK picglobal.