Bowon Chemical (CEO Heo Chan-hoe) , a total solution company for chemical materials, announced on the 16th that it had passed the preliminary examination for listing through a merger with BNK 2nd SPAC by the Korea Exchange on the 15th.
Founded in 1995, Bowon Chemical has grown by focusing on precision chemical materials for automotive interiors, building materials, and high-performance sheet materials for displays. The company operates a one-stop system that processes plastic raw materials like polyvinyl chloride (PVC), thermoplastic polyolefin (TPO), and polyurethane (PU) into films, then processes them into surface treatments and plywood to manufacture and supply a variety of products.
The company has secured differentiated manufacturing competitiveness based on a total solution encompassing the entire process. Key facilities include a gravure printer capable of printing up to 7 colors, microgravure and 2450mm repeat printing equipment, a plywood process for bonding TPO/PVC sheets with PP/PE foam, a T-DIE process for PVC molding for flooring, a tenoner process for click installation, and an electron beam crosslinking facility.
The funds generated through the merger will be used to expand production facilities, expand product lines, conduct research and development to improve quality, and invest in operating funds, thereby expanding the proportion of high-value-added products and establishing a global strategic base.
“Passing the preliminary screening is a recognition of our chemical materials total solution capabilities and growth potential,” said Heo Chan-hoe, CEO of Bowon Chemical. “We will use this merger and listing as an opportunity to accelerate R&D, expand production facilities, and establish global strategic bases, thereby leaping forward as a leading chemical materials company not only in the Asia-Pacific region but also globally.”
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