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LG Chem to invest in technical centres in the US and Europe by 2023

October 12/2021

MOSCOW (MRC) -- LG Chem Ltd., South Koreas leading chemical company, said Monday it will establish technical support facilities in the United States and Europe to improve customer care services in its main markets, said Koreabizwire.

LG Chem will invest around 120 billion won (USD103 million) to establish tech centers in Ohio, the United States, and Frankfurt, Germany, with their full-scale operations scheduled to start in 2023. The U.S. and Europe are the main markets that account for more than 20% of global demand for the companys strategic products, LG Chem said.

The company said each tech center is a dedicated customer support organization that will provide comprehensive technical solutions like product development and quality improvement to those who purchase its petrochemical products.

LG Chem added its American and European tech centers will each have various pilot facilities for customer-tailored technical support, particularly centered on automotive materials and packaging films, as well as eco-friendly products.

A total of 70 research and development experts, including application technology teams, such as extrusion processing and injection technology, will be stationed to provide technical support in need, the company said.

With its American and European tech centers, LG Chem said the company will have a global quadrilateral customer support system, connecting South Korea, China, the United States and Europe.

LG Chem is currently building a tech center in Huadong, China, with its operation slated for 2022. In addition to tech centers, LG Chem will also build an acrylonitrile butadiene styrene (ABS) compound plant at the site of the U.S. tech center.

It will invest around 60 billion won to construct the facility that will have an annual production capacity of 30,000 tons by 2023. The North American market accounts for 10 percent of global demand for ABS, the company added. LG Chem said it also plans to consider building an ABS polymerization plant to better respond to North American customers.

As MRC informed earlier, LG Chem started up its new second naphtha cracker in Yeosu in mid-June, 2021. The second cracker's production capacity will be 900,000-1,000,000 mt/year.

According to the ICIS-MRC Price Rport, ABS imports to Russia increased by 30% in in January-August 2021  compared to the same period last year and amounted to 27,900 tonnes against 21,400 tonnes. The share of South Korean supplies fell to 57% (15,800 tonnes) against 63% (13,500 tonnes) a year earlier.

LG Chem Ltd., often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. It has eight domestic factories and global network of 29 business locations in 15 countries. LG Chem is a manufacturer, supplier, and exporter of petrochemical goods, IT&E Materials and Energy Solutions.


mrcplast.com
Author:Anna Larionova
Tags:ABS, LG Chem, Russia, South Korea.
Category:General News
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