LG Chem to Dismantle Facilities at Gimcheon and Naju Plants for "Business Efficiency"
LG Chem has decided to dismantle some facilities at its Gimcheon plant in North Gyeongsang Province and its Naju plant in South Jeolla Province. This decision comes amid a prolonged downturn in the petrochemical industry.
According to industry sources on August 12, LG Chem will dismantle the entire Gimcheon plant and the styrene acrylate latex (SAL) production facility at the Naju plant.
The Gimcheon plant, which had a production capacity of 90,000 tons and produced super absorbent polymer (SAP), will have its production consolidated at the Yeosu plant due to aging facilities and intensified competition. The 20,000-ton SAL facility at the Naju plant will be relocated to the Daesan plant, also due to facility aging.
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LG Chem expects this move to result in reduced transportation costs and the benefits of facility integration. A company representative stated, "We are continuing to pursue efficiency in our petrochemical business operations."
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