24.06.2013 • NewsDede WillamsSamsungSGL Carbon

SGL and Samsung to Jointly Develop Carbon Fiber Composites

Germany's SGL Group and Korean electronics and petrochemicals group Samsung have founded a 50:50 joint venture to develop the market for carbon fiber composites. The partners say the new marketing company, Samsung SLG Carbon Composite Materials, will combine their core competencies. SGL will contribute its knowhow in carbon fiber-reinforced materials, Samsung its experience in application development.

The collaboration - closing of the deal is targeted for July, pending regulatory approvals, and operations are to begin shortly afterward - is expected to secure a long-term stable supply of materials for Samsung. Headquarters of the joint venture will be at Ulsan, South Korea, the marketing office at Seoul, South Korea. SGL products will be given preference in all transactions.

In the medium term, the companies plan to expand the business across Asia. Targeted applications, alongside electronics, are windmill turbine blades, pressure vessels, automotive and household appliances, seen as growing by 20% annually in Korea and China. Currently, Korean applications focus on prepregs and sporting goods.

SGL managing board member Jürgen Köhler said the joint venture "underlines our strategy to enter new markets and develop innovative applications for our high-performance materials." Yoosung Chung, CEO of Samsung Petrochemicals, commented that the partnership with the German group, which he said has "unique expertise" along the entire value chain from carbon fibers to CFRP components, will position his group as a leading player in these fields.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.

Free Virtual Event

Sustainability in Bioprocessing
Bioprocess Forum

Sustainability in Bioprocessing

Join us to explore hot topics in sustainable bioprocessing like the industrial potential of enzymatic synthesis, innovative biocatalysis techniques, and the use of digital twins in bioprocessing.