SK chemicals accelerates its entry into the global market and business expansion with the world's first chemically recycled BHET (r-BHET) of 70,000MT and chemically recycled PET (CR-PET) of 50,000MT production systems.
SK chemicals announced on the 6th that it held a board of directors meeting and signed an asset transfer agreement related to the chemically recycled BHET and chemically recycled PET business division of Shuye, a Chinese company specializing in green materials. The acquisition price for this deal is approximately $100 million.
SK chemicals' acquisition of Shuye's assets includes a depolymerization plant that chemically decomposes waste plastics to produce recycled BHET and a CR-PET production facility that uses the r-BHET produced here to make PET again, which can be sold separately. As a result, SK chemicals has secured the world's first commercially available polyester chemically recycled raw materials and production facility, which can be sold separately.
Through the acquisition of Shuye's assets, SK chemicals has obtained a commercial production system for chemically recycled BHET and products that utilize depolymerization technology about 1-2 years ahead of other domestic companies. By producing recycled plastic raw materials such as waste PET in China, where there is abundant supply, SK chemicals is expected to gain a high level of price competitiveness.
Through this investment, SK chemicals has completed a recycled plastic value chain that extends to chemically recycled BHET, chemically recycled PET, and chemically recycled copolyester (CR-Copolyester), securing the sustainability of copolyester, which is its core business, and laying the groundwork for new growth.