Lotte Chemical and GS Energy to establish $677m JV in South Korea

South Korean firm Lotte Chemical has said that it will build a petrochemical joint venture with GS Energy in South Korea. Both companies will invest KRW800bn ($677m) by 2023 in constructing the plant.
The Lotte Group company and GS Energy signed an agreement earlier this year to form the joint venture, provisionally named Lotte-GS Chemical. The joint venture company will be set up in Yeosu, 450km south of Seoul. The joint venture company will produce chemical compounds, including 200,000t of bisphenol A (BPA) and 210,000t C4 fraction products a year. BPA is used in the manufacture of polycarbonate plastics used in electronics, medical instruments, and automobile headlamp cases.
C4 fraction is a chemical compound used in the production of butadiene (BD) and tert-butyl alcohol (TBA). Lotte Chemical will have a 51% stake in the joint venture, while GS Energy will own the remaining stake. The joint venture is expected to generate KRW1tn in sales and KRW100bn in operating profit and create 7,700 jobs. The JV company will supply BPA products to Lotte Chemical to improve the price competitiveness of its polycarbonates, while expanding the company’s C4 fraction business.
GS Energy said that its refining unit, GS Caltex, will supply materials such as propylene and benzene for the joint venture. In December 2018, Lotte Chemical Indonesia (LCI) started building an ethylene project in Cilegon, Banten.

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LyondellBasell & MSI Technology, LLC Collaborate on Innovative Consumer Packaging

LyondellBasell | February 02, 2024

LyondellBasell and MSI Technology, LLC announced they have entered into an agreement for MSI Technology to serve the LyondellBasell Polybutene-1 (PB-1) resin line into consumer packaging applications for North America. MSI Technology is also the sales representative for the LyondellBasell Plexar product line. The expansion of the relationship is a strategic fit relative to the markets MSI Technology serves today. MSI Technology will use its technical sales approach combined with its current specialty product portfolio to enhance offerings to customers in consumer packaging. LyondellBasell PB-1 resins are commonly used in consumer packaging applications for easy-open packaging and film modification for seal initiation temperature providing Broad seal-peel temperature range Consistent and reproducible peel performance Adjustable peel force to end-use requirements Similar initiation and propagation peel force "Whitening" with "Smooth & Clean" peel surface Good seal integrity Easy processability Usable in blown film, cast film, extrusion coating and sheet extrusion "At LyondellBasell, we're passionate about creating solutions for everyday sustainable living," said Palmer Giddings, vice president Polymers at LyondellBasell. "Collaborating with MSI Technology on innovative packaging solutions is a major step forward in achieving that goal." "We are thrilled to expand our collaboration with LyondellBasell," said Brian McCaghy, president of MSI Technology. "The PB-1 resins align perfectly with our mission to provide specialty polymers and solutions to the packaging industry." The PB-1 resin line is part of MSI Technology's product offerings. The company also provides clients with access to dedicated sales and technical service specialists who provide guidance on technical resin selection to meet customer requirements. About LyondellBasell We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. About MSI Technology, LLC MSI Technology specializes in the sales, marketing, and development of specialty polymers. Our product lines include: Plexar tie-layer adhesives (manufactured by LyondellBasell), SPS peelable sealants, and SpeciPurge purging compound. MSI Technology and its sister company, Soarus LLC, are located in Arlington Heights, IL. Soarus markets Soarnol™), ethylene vinyl alcohol copolymer (EVOH), (manufactured by Mitsubishi Chemical Group) into North and Latin America. The two companies together provide sales and technical service for specialty polymers focused on the packaging market.

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