Dynea to build formaldehyde and resins plant in South Thailand
The Board of Directors of Dynea International Oy has approved a plan to build a world scale formaldehyde and resins plant in Hatyai, in Southern Thailand.
The plant will supply the fast growing wood panel industries in the region. "This investment fits well with our growth plans and is in line with our goal to be the principal panel board resin producer in Asia Pacific. By locating as close to our customers as possible, we focus on developing tailor-made solutions together with our customers, the panel board manufacturers in Southern Thailand", says Øivind Isaksen, Senior Vice President of Dynea's Panel Board Resins in Asia Pacific.
The plant's initial manufacturing capacity of nearly 60,000 tonnes per year of adhesive resins with provision for further expansion to more than 100,000 tonnes. These formaldehyde based adhesives resins will be used mainly in the manufacturing of panel boards, such as particleboard and MDF. Southern Thailand, with its growing number of wood panel and woodworking customers, is considered an important market area for Dynea's adhesive resins products.
When combined with Dynea's existing resin capacity in Krabi, the new Hatyai plant will bring Dynea's production capacity in Southern Thailand up to 120,000 tonnes per year. The Hatyai plant is expected to go on line at the end of 2005.
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