Lotte Advanced Materials purchases two Indonesian ABS firms
The company is expected to arrange the plants’ operations in order to expand their ABS production capacities to 73,000 tons/year from 40,000 tons/year. The company’s expansion plans also include further investments into the facilities.
The facilities, which are planned to generate revenue of $185.19 million, will reportedly begin commercial production by 2019.
Lotte Advanced Materials is aiming to boost its ABS production capacity to 1 million tons/year through additional expansions from the current capacity of 670,000 tons/year. Accordingly, the company will jump up to be the world’s fourth largest firm from its fifth place.
In terms of Lotte Advanced Materials’ plans to make new investments, the company is planning to build a new 300,000 tons/year ABS plant in Indonesia by 2022.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- China's PP market at almost 2-year low; H2 outlook bearish
- Asian spot ethylene market plunges to decade low
- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand
- PP and PE markets turn softer in Egypt, Mid-East
- European PET extends bearish trend into 3rd consecutive month
- European PS, ABS markets down after 4 months
- Thai PP, PE markets subdued by slowing economy, competitive imports