22 August 1994 00:00 [Source: ICB]
A RUMOURED explosion on 15 August at a 330 000 tonne/year urea plant at Ulsan, South Korea, operated by Korea Fertiliser & Chemical Co (KFC) has come exactly one month after Samsung Chemical assumed a majority shareholding in the company.
The explosion is not expected to affect production at the 20 000 tonne/year on-site melamine unit.
Samsung raised its 20% stake of the publicly-quoted fertiliser and chemical producer by purchasing a 36% controlling share previously held by the state-owned Korea Industrial Bank. Dongbu Chemical, which operates a separate fertiliser business, is the only remaining major shareholder in KFC with around 20% of the stock.
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