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Biz News Korea(Eng)

LG Chem to produce extra 230,000 metric tons of ethylene by 2019

Collected: 2016.10.17

Distributed: 2016.10.18

Source: Go Direct

South Korea’s LG Chem Ltd. will expand its naphtha cracking centers (NCCs) to boost its ethylene output by 230,000 metric tons by 2019 and transform polystyrene (PS) production facilities to instead produce acrylonitrile butadiene styrene (ABS), the company said Sunday.

The chemical producer will build additional production lines at its factory in Daesan, South Chungcheong Province, at a cost of 287 billion won ($252.3 million), where 230,000 metric tons of ethylene will be produced. The output will bump up LG Chem’s annual capacity of ethylene to 1.27 million metric tons, from current 1.04 million, adding over 400 billion to sales letting the firm retain its place as the largest producer of ethylene in the country.

The firm will also change one of its PS production lines to produce comparably higher-value added ABS by the first half next year. Once the transition is complete, its annual capacity of PS will be halved from 100,000 to 50,000 metric tons, whereas that of ABS will increase from 850,000 to 880,000 metric tons.

ABS is a highly functional plastic with strong resistance to heat and impact used to make diverse products from LEGO, automobiles and home appliances to IT devices.

LG Chem dominates the global ABS market with a 20 percent market share.

By Hong Jong-sung

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