South Korea’s LG Chem plans to close another SM line
by ChemOrbis Editorial Team - content@chemorbis.com
South Korean petrochemical company LG Chem plans to close its styrene monomer (SM) production line this month and is considering shutting down another base chemical production facility, local media sources reported.
The company plans to stop operations at its styrene facility in Yeosu, South Jeolla Province, which has a production capacity of 150,000 tons/year, by the end of March. The company previously closed another styrene plant with a capacity of 500,000 tons/year in Daesan, South Chungcheong Province.
Sources attributed these closures to the pressure from competitive Chinese products.
Moreover, LG Chem is reportedly in talks with Kuwait Petroleum Corp. (KPC) to sell a share in a domestic naphtha cracking facility.
The company plans to stop operations at its styrene facility in Yeosu, South Jeolla Province, which has a production capacity of 150,000 tons/year, by the end of March. The company previously closed another styrene plant with a capacity of 500,000 tons/year in Daesan, South Chungcheong Province.
Sources attributed these closures to the pressure from competitive Chinese products.
Moreover, LG Chem is reportedly in talks with Kuwait Petroleum Corp. (KPC) to sell a share in a domestic naphtha cracking facility.
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