Business Services Industry
LG Chem expands PVC capacity in China.
High Performance Plastics, January, 2002
The Korean company LG Chemical Ltd reports that its joint venture company, Tianjin LG Dagu Chemical Ltd, China, has raised PVC output from 150 000 to 240 000 tpa. The increase raises LG Chemical's total global PVC capacity to 1 million tpa.
There is currently a shortage of PVC in China of about 1.7 Mt, and 40% of the country's domestic demand depends on imports. President of LG Dagu Chemical Kwon Pung-jo said "Contrary to the global economic slowdown, China's economy is still robust and government reforms in the industrial materials sector is contributing to growth in PVC demand." LG Chemical Vice-president Yoo Chul-ho added "We anticipate the Chinese PVC market to grow at an annual rate of 8% until 2005." He said the company was "committed to increasing its...
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