LG Chem to invest US$350 mln in elastomer capacity expansion

摘要

LG Chem plans to invest a total of 400 bln won (US$351.7 mln) to increase the production capacity of elastic polymers, also known as elastomers, in a bid to expand its market share against industry-leading players Dow Chemical and ExxonMobil. According to reports the investment comes as the firm aims to shift its focus into manufacturing value-added, premium chemical products and materials, amid growing competition in the traditional petrochemical business.