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Lotte Fine postpones maintenance at caustic soda unit N. 1 in Ulsan

March 18/2020

MOSCOW (MRC) -- Lotte Fine Chemical delays turnaround at its caustic soda unit No. 1 by two weeks, according to Apic-online.

A Polymerupdate source in South Korea informed that, the company is likely to start turnaround at the unit on March 19, 2020. The planned outage is expected to remain on force till end-April, 2020.

Located at Ulsan in South Korea, the caustic soda unit has a production capacity of 210,000 mt/year.

As MRC informed before, in December 2019, Lotte Chemical Corp., a major South Korean chemical company, said its merger with Lotte Advanced Materials Co. would be completed by 2 January 2020. The company announced the merger plans on 22 August 2019, when it unveiled its decision to merge with its wholly owned subsidiary as part of efforts to streamline its chemical business.

Lotte Chemical formerly owned a 90 percent stake in Lotte Advanced Materials after it acquired the company from Samsung Group in April 2016. It bought the remaining 10 percent stake from Samsung SDI Co. for KRW 279.5 billion (USD 231 million) on 30 July 2019.

Lotte Chemical said the move is intended to help boost the company's competitiveness by bringing specialty chemicals businesses under the same wing and maximizing efficiency in management. The merger will also boost its annual polycarbonate (PC) production capacity to 460,000 tons.

according to MRC's ScanPlast report, Russia's consumption of caustic soda increased to 1,071,500 tonnes in 2019, up 10% year on year (975,600 tonnes). Russia's imports of caustic soda were 32,300 tonnes in 2019, up 61% year on year (20,000 tonnes). Exports of caustic soda from Russia decreased to 245,400 tonnes in 2019, down 7% year on year (263,600 tonnes). Production of caustic soda in the country totalled 1,289,400 tonnes in the 2019, up 1% year on year (1,278,900 tonnes).


mrcplast.com
Author:Margaret Volkova
Tags:PC, kausticheskaya soda, sheet extrusion, Honam Petrochemical, Lotte Chemical, Russia, South Korea.
Category:General News
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