Completion of EAA Acquisition
SK Global Chemical announced on September 3 that it completed the acquisition of Dow Chemical Company’s ethylene acrylic acid (EAA) copolymers and ionomers business on September 1.
As a result of the acquisition, Dow Chemical Company’s production facilities located in Freeport, Texas and Tarragona, Spain have been handed over to SK Global Chemical along with its production technology, trademark rights and intellectual property, meaning SK Global Company has emerged as a new powerhouse in the global EAA industry.
EAA is a type of functional adhesive copolymer, which is one of high value-added chemical products. It is mainly used as an adhesive for use in packaging materials such as aluminum foils and polyethylene.
SK Global Chemical and Dow Chemical Company signed their business transfer agreement in February this year and worked closely with each other for a successful transfer after the signing of the agreement. The acquisition process was completed after the merger between Dow and DuPont was completed on August 31.
“Value-added packaging materials constitute one of our future growth drivers,” said SK Global Chemical, adding, “The acquisition of Dow Chemical Company’s EAA copolymers and ionomers business will make a significant contribution to our remarkable presence in the industry down the road.”