MOSCOW (MRC) -- Hanwha Total is in plans to shut its No.1 paraxylene (PX) plant for a maintenance turnaround, as per Apic-online.
A Polymerpdate source in South Korea informed that the company is expected to shut its No. 1 PX plant in early-March 2016. The plant is scheduled to remain under maintenance for period of 5 weeks.
Located at Daesan in South Korea, the plant has a production capacity of 700,000 mt/year.
As MRC reported before, 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.
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