Latest news with #Cariflex
Yahoo
15-05-2025
- Business
- Yahoo
Cariflex Opens World's Largest Polyisoprene Latex Plant in Singapore, Following Over US$350 Million Investment
New facility increases Cariflex's global manufacturing capacity, with future expansion already enabled to meet growing market demand in the foreseeable future SINGAPORE, May 14, 2025 /CNW/ -- Cariflex Pte. Ltd. (Cariflex), the global market leader in polyisoprene rubber latex for medical-end markets and wholly owned subsidiary of DL Chemical Co., Ltd. (DL Chemical), officially inaugurated its new polyisoprene latex plant at Jurong Island, Singapore today. With an investment of US$355 million, the plant is the largest of its kind globally and will significantly expand Cariflex's production capacity to meet growing demand for high-quality synthetic latex used in medical and protective applications. The inauguration ceremony was officiated by Dr Tan See Leng, Singapore's Minister for Manpower and Second Minister for Trade and Industry, and attended by H.E. Hong Jin Wook, Ambassador of the Republic of Korea, Mr Kim Jong Hyun, Chief Executive Officer of DL Chemical, Mr Ryu Sang Woo, Chief Executive Officer of Cariflex, Mr Prakash Kolluri, Member of Cariflex Board of Director and President, Polymer Business, Kraton, and Mr Lim Wey-Len, Executive Vice President of the Singapore Economic Development Board (EDB), Ms Christine Wong, Assistant Chief Executive Officer Cluster Group, JTC and among other distinguished guests. Strengthening Cariflex's Manufacturing Network Supported by EDB and JTC, the Singapore facility plays a key role in Cariflex's ability to serve Southeast Asia, home to critical manufacturing sites for surgical gloves and condoms. Spanning 6.1 hectares, this plant supports growing demand in these markets as well as others such as non-surgical medical gloves, adhesives, and laminates, further broadening the company's diversification. Over the past two decades, Cariflex has expanded its manufacturing capacity in Brazil and previously, Japan, including a US$50 million expansion of its Paulinia facility in 2021. Mr Ryu Sang Woo, Chief Executive Officer at Cariflex, said: "We have strategically located our new facility here in Singapore, at the doorstep of our key customers. Singapore's thriving financial, innovation, and logistics hubs, along with a highly skilled workforce and strong IP protection, made this the ideal choice for our investment. "This new facility will allow us to expand production, while providing our customers with a diverse and reliable supply of high-quality materials, reinforcing our leadership in the global polyisoprene latex market," he added. Construction of the plant began in 2022, with operations commencing in November 2024. The plant is designed for modular expansion to accommodate future demand growth. When fully ramped up, it will double Cariflex's 2023 manufacturing capacity for polyisoprene latex. Investing in Talent and Long-Term Careers The opening of this plant also aligns Singapore's broader push to grow high-value, innovation-driven industries that offer meaningful and inclusive job opportunities for locals. The facility has created approximately 80 new permanent roles, the majority filled by Singaporeans. Cariflex has invested in developing its talent through training programs at its Brazil operations and at DL Chemical's sites in Korea, with a focus on operations, safety, quality, and digital systems. These efforts support Cariflex's long-term commitment to fostering career growth, including for non-graduates through mentorship programs. Positioned to Meet Regional Demand In 2020, Cariflex relocated its global headquarters to Singapore to strengthen integration between its commercial and manufacturing operations. Cariflex is the only company globally that manufactures anionic catalyst-based synthetic rubber and latex, known for its superior purity, transparency and softness. View original content to download multimedia: SOURCE Cariflex View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
14-05-2025
- Business
- CNA
Cariflex opens new plant in Singapore
Major synthetic rubber latex maker Cariflex has invested in a new Singapore plant to grow the firm's Southeast Asian market. Manpower Minister Tan See Leng says this signals a growing interest from chemical firms to ramp up capacity here. Such moves will also diversify the manufacturing sector. Nasyrah Rohim reports.
Straits Times
14-05-2025
- Business
- Straits Times
Cariflex opens $462m synthetic latex plant in Singapore, largest of its kind in the world
The new facility is Singapore's first polyisoprene latex plant and also the world's largest facility of its kind. PHOTO: CARIFEX Cariflex opens $462m synthetic latex plant in Singapore, largest of its kind in the world SINGAPORE - Cariflex, a major synthetic rubber latex producer, on May 14 opened a new plant on Jurong Island that is expected to double its global production capacity once fully ramped up. The 6.1ha facility, launched after a US$355 million (S$462 million) investment by the company, will enable it to better serve its customers in South-east Asia. The region accounts for over 75 per cent of its sales. The new facility is Singapore's first polyisoprene latex plant and also the world's largest facility of its kind, Minister for Manpower and Second Minister for Trade and Industry Tan See Leng highlighted at the opening ceremony. Cariflex's polyisoprene latex is a synthetic, water-based polymer latex primarily used in the production of surgical gloves and condoms. 'When fully ramped up, the plant will double Cariflex's manufacturing capacity for this product,' Dr Tan said. Cariflex said the facility has created about 80 new jobs, with the majority filled by Singaporeans. These jobs are spread across engineering, production, quality, supply chain and other manufacturing support functions. Dr Tan said the 80 jobs created is considered a sizeable expansion by today's standards, given that the manufacturing workforce has steadily shrunk with automation. The firm is also looking to add approximately 40 jobs in the coming years, Cariflex chief executive Ryu Sang Woo told The Straits Times. Synthetic rubber latex has been touted as an alternative to natural rubber latex, as it can minimise allergic reactions in some people, especially medical professionals who wear surgical gloves for long hours, said Cariflex's chief operating officer Philippe Henderson. Mr Ryu said the Singapore plant is an addition to its existing plant in Brazil, enabling the firm to diversify its manufacturing operations across two continents amid trade tensions. 'We can supply our raw materials (to customers) without any disruption because we have two parts of manufacturing,' said Mr Ryu, adding that the firm is securing raw material supplies through partnerships and long-term agreements in Asia. Dr Henderson said the Covid-19 pandemic disrupted supply chains around the world. Having a plant in Singapore will help shorten the delivery times to South-east Asia customers and build supply chain resiliency, he said. On why the firm decided to base its plant on Jurong Island, Mr Ryu said the island offers an attractive ecosystem with ready infrastructure and many multinational chemical companies operating there. Companies there can learn from each other and Cariflex can source some of the skilled labour on Jurong Island, he added. A Cariflex employee collecting polymer sample for quality control. PHOTO: CARIFEX Singapore's thriving financial, innovation and logistics hubs, along with a highly skilled workforce and strong intellectual property protection, also made it an ideal base, said Mr Ryu. When asked how the firm is mitigating potential rises in costs from US tariffs, Dr Henderson said Cariflex doesn't supply directly to the US, so it sees less direct impact. Instead, it supplies mostly to South-east Asia customers, which then export the end products to markets like the US. Mr Ryu noted that higher costs will eventually be transferred to end consumers and hopes the trade war can be eased as soon as possible, especially when the company's products are used in many medical goods essential for saving lives. Dr Tan said Cariflex is part of a broader group of speciality chemicals companies in Singapore, many of which offer high-value chemical products used in various end-applications. Speciality chemicals is an increasingly important growth segment for Singapore and now contributes to 20 per cent of the output in Singapore's wider energy and chemicals sector, he said. Dr Tan added: 'Speciality chemical firms produce in smaller volumes to serve niche end-markets, but its products tend to be higher-value and less carbon-intensive than commodity chemicals, and are often borne from years and years of research and innovation. 'Growing this segment will go a long way in diversifying our manufacturing sector, and in building an innovation-led economy that will benefit Singaporeans.' Join ST's WhatsApp Channel and get the latest news and must-reads.
Globe and Mail
14-05-2025
- Business
- Globe and Mail
Cariflex Opens World's Largest Polyisoprene Latex Plant in Singapore, Following Over US$350 Million Investment
New facility increases Cariflex's global manufacturing capacity, with future expansion already enabled to meet growing market demand in the foreseeable future SINGAPORE , May 14, 2025 /CNW/ -- Cariflex Pte. Ltd. (Cariflex), the global market leader in polyisoprene rubber latex for medical-end markets and wholly owned subsidiary of DL Chemical Co., Ltd. (DL Chemical), officially inaugurated its new polyisoprene latex plant at Jurong Island, Singapore today. With an investment of US$355 million , the plant is the largest of its kind globally and will significantly expand Cariflex's production capacity to meet growing demand for high-quality synthetic latex used in medical and protective applications. The inauguration ceremony was officiated by Dr Tan See Leng , Singapore's Minister for Manpower and Second Minister for Trade and Industry, and attended by H.E. Hong Jin Wook, Ambassador of the Republic of Korea, Mr Kim Jong Hyun , Chief Executive Officer of DL Chemical, Mr Ryu Sang Woo , Chief Executive Officer of Cariflex, Mr Prakash Kolluri , Member of Cariflex Board of Director and President, Polymer Business, Kraton, and Mr Lim Wey-Len , Executive Vice President of the Singapore Economic Development Board (EDB), Ms Christine Wong , Assistant Chief Executive Officer Cluster Group, JTC and among other distinguished guests. Strengthening Cariflex's Manufacturing Network Supported by EDB and JTC, the Singapore facility plays a key role in Cariflex's ability to serve Southeast Asia , home to critical manufacturing sites for surgical gloves and condoms. Spanning 6.1 hectares, this plant supports growing demand in these markets as well as others such as non-surgical medical gloves, adhesives, and laminates, further broadening the company's diversification. Over the past two decades, Cariflex has expanded its manufacturing capacity in Brazil and previously, Japan , including a US$50 million expansion of its Paulinia facility in 2021. Mr Ryu Sang Woo , Chief Executive Officer at Cariflex , said: "We have strategically located our new facility here in Singapore , at the doorstep of our key customers. Singapore's thriving financial, innovation, and logistics hubs, along with a highly skilled workforce and strong IP protection, made this the ideal choice for our investment. "This new facility will allow us to expand production, while providing our customers with a diverse and reliable supply of high-quality materials, reinforcing our leadership in the global polyisoprene latex market," he added. Construction of the plant began in 2022, with operations commencing in November 2024 . The plant is designed for modular expansion to accommodate future demand growth. When fully ramped up, it will double Cariflex's 2023 manufacturing capacity for polyisoprene latex. Investing in Talent and Long-Term Careers The opening of this plant also aligns Singapore's broader push to grow high-value, innovation-driven industries that offer meaningful and inclusive job opportunities for locals. The facility has created approximately 80 new permanent roles, the majority filled by Singaporeans. Cariflex has invested in developing its talent through training programs at its Brazil operations and at DL Chemical's sites in Korea, with a focus on operations, safety, quality, and digital systems. These efforts support Cariflex's long-term commitment to fostering career growth, including for non-graduates through mentorship programs. Positioned to Meet Regional Demand In 2020, Cariflex relocated its global headquarters to Singapore to strengthen integration between its commercial and manufacturing operations. Cariflex is the only company globally that manufactures anionic catalyst-based synthetic rubber and latex, known for its superior purity, transparency and softness.
Business Times
14-05-2025
- Business
- Business Times
Cariflex launches US$350 million polyisoprene plant in Singapore, the world's biggest
[SINGAPORE] Synthetic rubber latex maker Cariflex has officially inaugurated its new plant in Singapore, furthering its supply-chain resilience and market penetration in South-east Asia. The region, which contributes over 75 per cent sales of Cariflex's overall latex products, is a key growth market given its high concentration of natural rubber companies, which are potentially future customers of the synthetic latex maker, chief operation officer of Cariflex Dr Philippe Henderson told The Business Times. 'The markets for our synthetic latex products are where natural rubber latex has been used, and South-east Asia is the place,' he said. Made possible with over US$350 million of investment, the polyisoprene rubber plant is the first of its kind in Singapore, and the largest in the world, highlighted Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry during the plant opening ceremony on Wednesday (May 14). Construction of the plant in Jurong Island began in 2022, with operations commencing in November 2024. The opening ceremony marked the completion of the technical and regulatory approval for the plant as a qualified supplier. 'The plant is designed for modular expansion to accommodate future demand growth. When fully ramped up, it will double Cariflex's 2023 manufacturing capacity for polyisoprene latex,' noted the Singapore-based specialty chemicals company, which is wholly owned by petrochemical company DL Chemical, under South Korean conglomerate DL Group. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Cariflex's polyisoprene rubber latex is a synthetic, water-based polymer latex, especially suitable for surgical gloves and condoms -- the applications where allergies to natural rubber latex is a concern. Dr Tan noted that specialty chemicals as an increasingly important growth segment for Singapore: 'Over the last 10 years, its (specialty chemicals sector's) value-added has doubled to nearly S$5 billion, and it now contributes to 20 per cent of the output in Singapore's wider energy and chemicals sector.' He added that the Republic welcomes expansions by chemical firms to meet the rising demand for high-performance chemicals, that are less carbon-intensive than commodity chemicals. 'Growing this segment will go a long way in diversifying our manufacturing sector, and in building an innovation-led economy that will benefit Singaporeans,' said Dr Tan. Strategic location of Singapore Cariflex CEO Ryu Sang Woo noted that Singapore is the manufacturing base given its proximity to the customers' manufacturing facilities. This is on top of the country's thorough intellectual property protection and attractive business planning policies. The new plant, together with Cariflex' facility in Brazil, ensures its supply chain resilience. 'We are only the company who can produce from both sides (of the world) the same product, so customers can enjoy non-disrupted supply... our competitors only have small operations in one place,' said Cariflex' Ryu, adding that other suppliers of synthetic rubber latex would be more susceptible to local disruptions. He noted that Cariflex has directly hired 80 skilled talents for the new plant's operation, additional to about 30 more people engaged via third-party contractors. The job creation is a 'sizeable expansion by today's standards', noted Dr Tan, given that manufacturing workforce has steadily shrunk with automation. 'In a time of global uncertainty and a challenging trade climate, this investment is a welcome boost for Singapore,' said Dr Tan. For Cariflex' parent company, the plant is not only a 'cornerstone' of DL Chemical's global transformation, but also contributes to DL Group's broader goal of net-zero emissions by 2050, said DL Chemical's CEO Kim Jong Hyun. 'We remain committed to further investment and business expansion on the remaining land – in ways that create even more value for our customers and lasting benefits for the local community,' said DL Chemical's Kim.
