Chemical
Tosoh forms JV with Namhae Chemicals for silica production in Korea
Tosoh Silica will hold 67% stake in the JV with commercial operations planned in October 2021.
- By ICN Bureau
| June 15, 2020
Tosoh Silica Corporation, a member of the Tosoh Group, recently decided to establish a joint venture with Namhae Chemical Corporation of South Korea and construct a base to produce silica for use in fuel-efficient tires.
Tosoh Silica will hold 67% stake in the JV with commercial operations planned in October 2021.
Demand for silica for fuel-efficient tires is expected to increase in line with a continued reduction in automotive fuel consumption as well as a shift towards vehicle electrification. Silica exhibits superior effectiveness in improving tire performance by reducing rolling resistance, which leads to enhanced automotive fuel economy.
Utilizing the advanced technological capabilities it has cultivated, Tosoh Silica will establish the second production base overseas to satisfy robust demand, ensure a stable supply of products, and strengthen the profitability of the business.
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