MOSCOW (MRC) -- Hanwha Chemical is in plans to shut its linear low density polyethylene (LLDPE) plant for maintenance turnaround, reported Apic-online.
A Polymerupdate source in South Korea informed that the plant is planned to be shut in November 2015. It is likely to remain off-stream for around 10 days.
Located at Yeosu in South Korea, the plant has a production capacity of 385,000 mt/year.
As MRC informed previously, in March 2015, South Korea's Fair Trade Commission (KFTC) gave conditional approval to Hanwha's proposed acquisition of Samsung General Chemicals. The regulatory authority identified that the combined entity could dominate the domestic ethylene vinyl acetate (EVA) market, which could result in higher prices. However, markets of the other three chemical products including low-density polyethylene, linear low-density polyethylene and high-density polyethylene will not be significantly affected by the transaction, KFTC said.
Hanwha Group is one of the largest business conglomerate in South Korea. Founded in 1952 as Korea Explosives Inc., the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosives, their original business, to retail to financial services.
MRC