According to the Reuters of Seoul on January 19th news, South Korea Lotte chemical company is seeking to buy troubled Petrochemical Industries Co Singapore Jurong Island aromatics company (JAC), because the Korea Companies continue to seek business expansion.
JAC went into receivership in September 2015, was facing a dilemma of global commodity prices collapse, the company has been trying to solve the debt problem.
| POLYVINYL ALCOHOL |
Lotte chemical Thursday in a document submitted to the Korea Stock Exchange said the company has submitted a letter of intent on the possible acquisition of JAC earlier this month, and has been nominated for a short list of acquisitions in January 10th.
Condensate oil separation device JAC production facilities include a set of 100 thousand barrels / day and some petrochemical plant, the main production of textile raw materials and plastic bottles of p-xylene.
| POLYVINYL ALCOHOL FIBER |
A Singapore trader said, the deal will also increase the potential Lotte Chemical Petrochemical naphtha supply, while the consolidation of Lotte chemical condensate as one of Asia’s largest buyers position.
In Lishui and South Korea Lotte chemical currently operates two naphtha Mountain Center, total ethylene production capacity reached 2 million 100 thousand tons / year.
| PVA |
Condensate Lotte chemical and modern oil companies also have a common set of 130 thousand barrels / day separation device, the device has begun vote last year.
| http://www.thiourea.net |