Hanwha Living & Creative (L&C) Corporation has finalized the acquisition of AZDEL Inc, thus expanding its offering of composite and advanced material solutions for transportation and industrial segments. AZDEL Inc., a 50/50 joint venture between SABIC Innovative Plastics (formerly GE Plastics) and PPG Industries, manufactures high performance thermoplastic composites designed for both interior and exterior applications across many different industries. Major segments served include automotive, heavy truck, recreational vehicles, industrial and other transportation applications.
AZDEL has entered into a long-term strategic supply arrangement with SABIC Innovative Plastics and PPG Industries, whereas SABIC Innovative Plastics will supply thermoplastic resins to AZDEL and will continue to work with AZDEL through a joint development agreement to bring new innovative products to the industry. In the same way, PPG will continue to supply fiberglass reinforcement materials to AZDEL under a long-term supply agreement.