SK Chemicals to set up PPS resins joint venture with Teijin

Shin & Kim represented SK Chemicals, a leading Korean chemical company, in a transaction to form a joint venture with Teijin Chemicals, a Japanese chemical company.  The joint venture company, to be 66% owned by SK Chemicals, will produce environmentally friendly pollyphenyline sulfide materials (PPS) aimed at growing electric vehicle and electronics industries. PPS is a super-engineering plastic with outstanding thermal and chemical stabilities, whose demand is expected to grow to replace various metallic applications.  The joint venture will officially start around the end of July, when the business combination between the two companies is approved in Korea, Japan, China, the United States, and other such countries to which the joint venture’s operations will extend.