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It is reported that LG shut down its first polyvinyl chloride (PVC) plant in China.
PVC is a common chemical product and the market is currently oversupply
.
According to news from the chemical industry on August 3, LG’s plant in Dagu, Tianjin was acquired by the neighboring Bohai plant
.
The Dagu PVC factory is LG's first factory built in China in 1995
.
The global oversupply of PVC continues to intensify, and the loss of the Dagu plant last year is expected to reach 10 billion won
.
In addition, LG is currently overhauling or rebuilding production facilities at home and abroad one by one
.
In July last year, LG sold its lithium-ion battery isolation membrane equipment at its Ochang 2 plant in Chungcheongbuk-do, Japan, to Toray, a Japanese chemical company
.
At the beginning of this year, some experts predicted that chemicals such as ethylene and polyethylene would be oversupply in the future.
LG launched a new project and planned to build a total petrochemical plant with an annual production capacity of more than 1.
6 million tons in Kazakhstan
.
In 2011, LG signed an agreement with UCC, a state-owned petrochemical company in Kazakhstan, to jointly build a giant chemical company with ethylene and polyethylene production capacity of 830,000 tons/year and 800,000 tons/year respectively, with a total investment of nearly 4.
2 billion US dollars
.
PVC is a common chemical product and the market is currently oversupply
.
According to news from the chemical industry on August 3, LG’s plant in Dagu, Tianjin was acquired by the neighboring Bohai plant
.
The Dagu PVC factory is LG's first factory built in China in 1995
.
The global oversupply of PVC continues to intensify, and the loss of the Dagu plant last year is expected to reach 10 billion won
.
In addition, LG is currently overhauling or rebuilding production facilities at home and abroad one by one
.
In July last year, LG sold its lithium-ion battery isolation membrane equipment at its Ochang 2 plant in Chungcheongbuk-do, Japan, to Toray, a Japanese chemical company
.
At the beginning of this year, some experts predicted that chemicals such as ethylene and polyethylene would be oversupply in the future.
LG launched a new project and planned to build a total petrochemical plant with an annual production capacity of more than 1.
6 million tons in Kazakhstan
.
In 2011, LG signed an agreement with UCC, a state-owned petrochemical company in Kazakhstan, to jointly build a giant chemical company with ethylene and polyethylene production capacity of 830,000 tons/year and 800,000 tons/year respectively, with a total investment of nearly 4.
2 billion US dollars
.