Wacker Chemie is preparing to build a new silicone production complex at its Charleston facility in the US state of Tennessee.
The German company has started a feasibility study as part of an expansion project at the site estimated to cost more than $200m and create more than 200 new jobs.
“The planned expansion measures in Charleston are a further step toward making it a fully integrated site with closed production loops, and an important prerequisite for accelerating our growth as planned,” said Wacker CEO Christian Hartel.
“Wacker is the world's second-largest silicone producer, and this business is of strategic importance to us. Demand for high-performance specialty silicones is showing particularly strong growth,” he added.
The Munich-based chemical group is aiming for sales of over €10 billion by 2030, with an EBITDA margin of over 20%.
“In the US, demand for silicones has shown above-average growth in recent years,” said David Wilhoit, president & CEO of US subsidiary Wacker Chemical Corporation.
"With this comprehensive investment offensive, we are further expanding our position in the world's second largest chemical market,” he added.