Cariflex to double its Polyisoprene Latex capacity at the Paulinia facility in Brazil
- Cariflex Board of Directors approved the approximate $50 million capital project in April 2020
- The new plant is expected to be operational in the 1st quarter of 2021
SINGAPORE (July 17th, 2020) - Cariflex PTE. Ltd. (Cariflex) today announced that it will be constructing a new large-scale polyisoprene latex plant at its Paulinia, Brazil facility to meet the strong market demand from its medical and consumer product customers.
Philippe Henderson, Cariflex Sales & Marketing Leader shares, “Cariflex is excited to be making a sizeable investment in support of the growth of the polyisoprene latex business. Cariflex polyisoprene latex is a unique synthetic alternative to natural rubber latex for dipped goods and various specialty products.” Henderson highlights the investment in added polyisoprene latex capacity will support the growth ambitions of our valued customer base.
With our increased production capacity and unmatched global service network, our customers can be assured of secure supplies anywhere in the world. Following the addition of this polyisoprene latex unit, the new resulting capacity in Paulinia, Brazil combined with the existing capacity in Himeji, Japan will strengthen our position as the global leader of polyisoprene latex with unmatched quality and supply diversity. Customers will benefit from Cariflex IR0401 latex volumes sourced from four distinct production lines. The addition of this new production line in Paulinia, Brazil is replicating the technology of the current fully utilized unit, and will double the polyisoprene latex capacity at the site.
Daelim Industrial Co., Ltd named Mr. Prakash Kolluri as Chief Executive Officer of Cariflex PTE. Ltd. Mr. Sean Kim, Chief Executive Officer for Daelim Industrial Co., Ltd says, “We are delighted to have appointed Mr. Prakash Kolluri”. Mr. Kim describes his confidence in Kolluri’s “wealth of experience” to continue to lead organic and innovation driven growth at Cariflex PTE. Ltd. “[He] is a huge asset to the company, we are confident Prakash will move [us] forward and [be] extremely valuable in driving our future growth globally.”
CEO Prakash Kolluri asserts, “Our strategic decision of capacity expansion, in support of organic growth, separates us from competition. Our industry leading polyisoprene latex capacity acts as a catalyst for our valued customer base to make inroads in new geographies. Cariflex is strategically positioned and has a bright future serving medical and other high value markets.”
ABOUT Cariflex
Cariflex is a global leader of isoprene rubber latex (“IR Latex”) and isoprene rubber (“IR”) for medical end markets and other high-value markets with strong growth drivers. Cariflex produces high value-added synthetic rubbers and latexes used for medical materials such as surgical gloves and rubber stoppers and seals for drug delivery devices. Cariflex is a wholly owned subsidiary of Daelim Industrial Co., Ltd.
ABOUT DAELIM INDUSTRIAL
Daelim Industrial Co., Ltd. (KSE: 000210) is the flagship company of Daelim Group, one of Korea's top conglomerates, with more than 80 years of business history. Daelim Industrial is mainly engaged in petrochemical and engineering & construction businesses with $ 8.5 billion in sales as of 2019 fiscal year and is continuing on its path to become a leading global developer. Daelim Industrial's Petrochemical Division has maintained its market leadership through its proprietary technology. Daelim Industrial's cutting-edge technological advancements has enabled it to sustain its global leadership position in the Polyisobutylene market worldwide, having commercialized metallocene polyethylene for the first time in Korea and developing BOCD (Broad Orthogonal Co-Monomer Distribution) polyethylene and EPO (Ethylene-Propylene Oligomer) for only the second time worldwide.