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(GV) -- GS Caltex announced
on Friday that it had broke ground for a polymer compounds plant in
the southern part of the country. The plant to be built in Jinju, 434 kilometers
south of Seoul, is slated to start commercial operations in 2015 with an annual
production capacity of 120,000 tonnes, the company said in a press
release.
The company's Czech polymer compound plant that will annually
produce 30,000 tonnes of polymer compounds is scheduled to be completed in
October. GS Caltex currently has two polymer compounds plants in China with a
combined annual production capacity of 86,000 tonnes.
GS Caltex said it
has been providing polymer compounds to local and foreign companies, including
Samsung Electronics Co., Hyundai Motor Co., Kia Motors Corp. and Toyota Motor
Corp. The company plans to expand its supply of polymer compounds to
European car makers such as BMW and Mercedes-Benz after the completion of its
Czech plant.
GS Caltex is South Korea's second-largest oil
refiner. GS Caltex provides more than one-third of Korea’s oil needs and exports
over 50% of its products. |
