Home / Knowledge / News / Textiles / LG Chem to expand polyolefine products
LG Chem to expand polyolefine products
30
Aug '16
courtesy: LG Chem
courtesy: LG Chem
Korea based LG Chem will expand polyolefine products with its exclusive technology, leading to better quality of polyester and polypropylene. This expansion is part of the company's plan to boost its competitiveness and increase the sales of high value petrochemicals from the current 3 trillion won ($2.7 billion) to 7 trillion won by 2020.
 
LG Chem is also considering expanding ethylene production, according to Korean media reports. Currently, the company has capacity to produce 2.2 million tons of ethylene in Korea.
 
The company will also invest 400 billion won to increase production of ealstomer, a type of high value synthetic resin. LG Chem is one of the four companies in the world that produce elastomer.
 
It will also gradually double the production of acrylonitrile-butadiene-styrene (ABS). At present, the company is the world's largest producer of ABS, with capacity to produce 300,000 tons at its factory in China.
 
However, the company will continue with its original business of naphtha cracking centre, which produces basic sources of petrochemicals. (RKS)
 

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search