MOSCOW (MRC) -- Kraton plans a “significant expansion” of styrene-butadiene-styrene block copolymers (SBS) capacity at its plant in Belpre, Ohio, starting in 2024, said the company.
By 2025, SBS production capacity is expected to increase by 24,000/year, it added. “This expansion supports our growth strategy and our customer's growing demand for SBS in North America," said Holger Jung, Kraton Polymers CEO.
Last year, global supply chain challenges and force majeures impacted Kraton’s business, “but we have successfully navigated and emerged stronger”, Jung said.
To further grow its SBS capacity in north America, Kraton is exploring additional manufacturing expansion opportunities to strengthen its regional position, it said. Financial details were not disclosed.
We remind, Kraton Corporation announced a general price increase of up to 20% across its crude tall oil (CTO) refinery products and derivatives, it said in a press release. The increase will be effective 1 July, or as contracts allow. Kraton is targeting the increase alongside a continued supply and demand imbalance in the market.