Abu Dhabi, Korean JV for cable compounds
A new JV will boost the cable,wire compound market.
The market for high-quality compounds for the wire and cable industry has received a boost with a new JV between DYM of Korea and Emirates Conversion Industries LLC (Senaat) of Abu Dhabi.
The JV, to be known as DYM International LLC Abu Dhabi, is the result of Senaat’s acquisition of a 16.67% stake in DYM.
Comprising three UAE-owned industrial groups, Senaat is one of the emerging investment companies in Abu Dhabi. Involved in metals, marine, infrastructure and petchem downstream developments, Senaat’s investment aim is to develop industrial downstream projects, while contributing to the Abu Dhabi 2030 Vision.
DYM is a privately-held company based in Cheonan-City, South Korea. A key player in the production of compounds for the wire and cable industry, it is currently the world’s third-largest producer of these specialty compounds. Its product portfolio covers a wide spectrum for several applications within the sector, including non-halogen flame retardant and semi-conductive, rubber, silane and jacketing compounds.
“We intend to build and grow sustainable and diversified businesses around specific applications, technologies, international sales and marketing skills and activities,” said Senaat chairman HE Sohail Faris Al Mazrui.