Expanding Global Operations

GS Caltex builds 2nd multiple resin plant in Suzhou, China; additional plant in Czech Republic slated for late 2012 completion

GS Caltex completed the construction of its second multiple resin plant in Suzhou, Jiangsu Province, China, capable of producing 37,000 tons of multiple resin per year, and put it online in a ceremony held at the new plant on Oct. 27, the company announced recently.
The product is a kind of functional plastic used in electric home appliances and cars whose demand is on the rise in recent years. The oil refiner took a year to build the plant at a cost of 15 billion won on 33,000 square meters of land in Wujang, Suzhou, the company said.
Officials of GS Caltex said the new plant will supply its product to both Korean and Chinese firms including Samsung, LG, and Kia Motors, which have plants in China, and Hier Electronics, Meidi, Chirui Auto, and other Chinese firms. The company also has plans to supply the product to Russia, Thailand, Taiwan, and other foreign countries to boost sales of the product, including exports, to 70 billion won.
The oil refinery built its first multiple resin plant in Rangpang, Hebei Province, in 2006 to turn out 45,000 tons annually. With the addition of the second plant, total output of the product in China will rise to 82,000 tons, about 7 percent of the total demand for the product in China, about 1.2 million tons.
GS Caltex is also building a multiple resin plant in the Czech Republic with an annual capacity of 30,000 tons targeted for completion in September 2012.
The company said it plans to be a global entity in the multiple resin industry with the plants in China and the Czech Republic, and within two or three years the company plans to boost its total production of the product at its overseas and domestic plants to 221,000 tons annually, enough production capacity to be a global player.
The energy market is poised for significant change due to diverse and complex variables such as changing demand, increased fluctuation in price, climate change, and globalization.
In addition, to satisfying diverse customer needs through tailored services, a company that provides energy has to adopt a broad and long-term perspective while taking into consideration the future of the global environment and society, to deliver the optimal combination of energy and fulfill its mission.
Building on a competitive edge derived through the efficient use of traditional energy sources such as oil and petrochemicals that enabled the rise of modern civilization, GS Caltex will explore new energy to spearhead a green future and foster new growth drives to become the unparalleled leader in the Asia-Pacific region.
Values upheld by GS Caltex are crucial to realizing the corporate vision. The core values driving GS Caltex are customer satisfaction, employee development, maximizing shareholder value, and contributing to the advancement of society.
Moreover, GS Caltex employees are driven by the organizational values of trust (mutual confidence and respect), flexibility (an open mind and conduct to pursue diversity), challenge (setting and striving for ambitious goals), and excellence (aspiring to be the best).
Another facet to achieving the GS Caltex vision is innovation. An organization must constantly innovate to survive in a fast changing business environment. In 1999, GS Caltex was the first oil refiner in the world to introduce Six Sigma activities, which have since taken root as the company's actions for change and innovation.
With the perseverance to resolve problems and creativity to transcend barriers, GS Caltex continues to seek innovation, the company's website said. nw

(right) GS Caltex Chairman Hur Dong-soo. A view of the second resin plant that GS Caltex built in Suzhou,Jiangsu Province, China, producing 37,000 tons of multiple resin annually. Photos on courtesy of GS Caltex

Copyright(c) 2003 Newsworld All rights reserved. news@newsworld.co.kr
3Fl, 292-47, Shindang 6-dong, Chung-gu, Seoul, Korea 100-456
Tel : 82-2-2235-6114 / Fax : 82-2-2235-0799