SI Group will invest more than $50 million across three manufacturing sites in North America to install globally competitive main antioxidant capacity, increasing its supply for this critically important and growing market segment.
The expansions will take place at SI Group's antioxidant plants in Morgantown, West Virginia; Newport, Tennessee; and Orangeburg, South Carolina.
This investment demonstrates SI Group's commitment to the expanding U.S. chemical market, with a focus on supplying strategically located, critical raw materials to key partners in the region. With SI Group's current extensive antioxidant manufacturing footprint in the U.S. and backward integration, this planned expansion will increase its security of supply by offering a fully integrated portfolio of phenolic antioxidants in the U.S. These performance additives are broadly used in growth segments such as food packaging, automotive, construction, adhesives and other applications.
"This capacity expansion plan is a direct result of our focused efforts on growth and responding to our customers' needs. The investment will increase domestic capacity and security of supply for our customers and strengthen SI Group's position as a partner of choice," said Chuck Reardon, SI Group's vice president of plastics solutions.
SI Group will invest more than $50 million.
"We are pleased to be in a position to invest in SI Group's capacity and support the success of our customers, as well as bring new manufacturing and product capabilities and manufacturing jobs to our local communities."
The new capacity is expected to come on line in the second half of 2022. These projects are expected to create short-term construction jobs, followed by permanent manufacturing jobs once construction is complete.
For more information, visit www.siigroup.com or call (518) 347-4200.
