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S. Korea’s LG MMA invests $115mn to rev up MMA output

Collected: 2017.06.01

Distributed: 2017.06.05

Source: Go Direct

South Korea’s LG MMA Co., a joint venture of LG Corp. with Japan’s Sumitomo Chemical Co. and Japan Catalyst Inc., will invest 129 billion won ($115.1 million) to ramp up its methyl methacrylate (MMA) capacity to keep up with fast-growing demand for the chemicals used in various industrial materials.

LG MMA said Wednesday it decided to expand its Yeosu plant on the southern coast and the total MMA output will rise from current 180,000 metric tons to 260,000 metric tons after it completes the expansion by the first half of 2018 as planned.

MMA is an organic compound used in producing acrylic glasses, adhesives and sealants, coating, industrial paints and synthetic marble. Current MMA production in Korea is estimated at 440,000 metric tons annually, falling short of its domestic consumption estimated at 490,000 metric tons. The nation depends on imports for the shortfall.

The firm expects the facility expansion would allow it to be the country’s No.1 MMA supplier and one of the world’s top five manufacturers of the chemical. It also expects it would be able to replace around 160 billion won worth imports of MMA annually once its facility is expanded before June next year.

By Jung Wook

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