Daelim Industrial completes acquisition of US-based Cariflex
South Korean construction company Daelim Industrial has completed the takeover of Carliflex, a chemical business unit of Kraton, a US firm that produces specialty polymers and chemical products derived from pine wood pulping byproducts.
Through the acquisition, worth $530 million, Daelim has gained Carliflex’s operations and workforce overseas, in the US, Germany, Belgium, Japan and Singapore.
“The production technology for high-performance butadiene-based rubber that the company has gained via the latest acquisition is a key industrial segment the Korean government is nurturing,” said an official from Dealim, adding the chemical product will generate great values in diverse industries.
Cariflex facility in Brazil
The firm also said it would expand into new businesses that need synthetic rubber products, including medical, aerospace and high-performance tire industries.
Carliflex produces synthetic rubber and latex, which are used for surgical gloves and caps for syringes. Since surgical gloves made of natural rubber can cause an allergy for both medical professionals and patients, those based on synthetic rubber are often used in operating rooms. The US-based company is the largest player in the segment, and the market is forecast to grow 8 percent every year.
By Kim Young-won (firstname.lastname@example.org)