Kraton Corp. Advances its Commitment to Bitumen SBS Modification with Innovative, Sustainable Solutions and Capital Effective Capacity Gains to Support Industry Growth
HOUSTON, Oct. 6, 2020 /PRNewswire/ -- Kraton Corporation (NYSE: KRA), a leading global producer of specialty polymers and high-value biobased products derived from pine wood pulping co-products, highlights plans for expanded production capacity for SBS polymer grades.
As a sustainability leader in our core markets, Kraton recognizes the need to reduce the carbon footprint for our customers and the environment, including increasing raw material efficiency and utilizing bio-based raw materials. "Our recent innovation focus has been to develop novel SBS grades for bitumen modification to allow for significantly lower dosages. We have seen success in lab testing, and are actively partnering with customers to test in field trials," commented Dr. Holger Jung, Kraton's Senior Vice President and President, Polymers.
Further, Kraton also anticipates increased pitch use, a bio-based pine chemical co-product it manufactures in its pine chemical manufacturing facilities, that can partially replace bitumen in paving and roofing applications to meet requirements for reduced hydrocarbon-based inputs to lower overall carbon footprint. One such example of this notable market development is in Sweden. Skanska AB is combining its new bitumen product, MJOG 16, with Kraton pitch to pave approximately 18 km of roadway in Sweden for the Swedish Transport Administration. "Kraton is very proud to be part of Skanska AB's sustainable efforts in Sweden. Combining our bio-based pitch with SBS polymer modification in asphalt will allow the high performance and durability of SBS-modified asphalt to merge with a renewable raw material, further underscoring our strong commitment to sustainability," said Dr. Jung.
Since 2016, Kraton has expanded its production capabilities in Europe and North America by approximately 20 kilotons through efficient capital investments made in its core SBS manufacturing assets. Similarly, to respond to SBS's future anticipated growth in both paving and roofing applications, Kraton has developed approximately 40 kilotons of additional cost-effective expansions across the European and North American footprint. "Kraton expects its planned increase in SBS supply capability and continued innovation-led growth in a novel, and sustainable product offerings will enable us to continue to strengthen our leading market position," added Dr. Jung.
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are often characterized by the use of words such as "hopes," "believes," "estimates," "expects," "projects," "may," "could", "would" "intends," "plans" or "anticipates," or by discussions of strategy, plans or intentions. The statements in this press release that are not historical statements, including statements regarding Kraton's expectations for its planned increase in SBS supply capability, its anticipated use of pitch and the associated effects, its expectations for new product offerings and its anticipations regarding its market position are forward-looking statements.
All forward-looking statements in this press release are made based on management's current expectations and estimates, which involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed in forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those expressed in forward-looking statements is contained in Kraton's most recently filed annual report on Form 10-K, quarterly reports on Form 10-Q and in other filings made by Kraton with the U.S. Securities and Exchange Commission, and include, but are not limited to, risks related to: Kraton's ability to continue the technological innovation and successful commercial introduction of new products (which depends on obtaining regulatory approval); early stage products performing as currently expected; Kraton's ability to protect its intellectual property and other proprietary information; Kraton's ability to repay or re-finance its indebtedness; Kraton's reliance on third parties for the provision of significant operating and other services; the impact of extraordinary events, including health epidemics of pandemics such as COVID-19 (including governmental and regulatory actions relating thereto); natural disasters and other weather conditions and terrorist attacks; conditions in the global economy and capital markets; fluctuations in raw material costs; limitations in the availability of raw materials; competition in Kraton's end-use markets; fluctuations in global tariffs and logistics costs; and other factors of which we are currently unaware or deem immaterial. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements contained herein speak only as of the date of this press release, and we assume no obligation to publicly update or revise such forward-looking statements in light of new information or future events.
ABOUT KRATON CORPORATION
Kraton Corporation (NYSE: KRA) is a leading global sustainable producer of specialty polymers and high-value biobased products derived from pine wood pulping co-products. Kraton's polymers are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing applications. As the largest global provider in the pine chemicals industry, the company's pine-based specialty products are sold into adhesives and tire markets, and it produces and sells a broad range of performance chemicals into markets that include fuel additives, oilfield chemicals, coatings, roads, construction, metalworking fluids and lubricants, inks, and mining. Kraton offers its products to a diverse customer base in numerous countries worldwide.
Kraton, the Kraton logo and design, are all trademarks of Kraton Polymers LLC or its affiliates.
For further information:
H. Gene Shiels
281-504-4886
SOURCE Kraton Corporation
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