Corrected: LG Chem, Versalis partner to enter Europe MLLDPE market

24 October 2013 09:52  [Source: ICIS news]

Correction: In the ICIS news story headlined “LG Chem, Versalis partner to break into Europe MLLDPE market”, please read in the third paragraph … Versalis will import premium synthetic resins from LG Chem … instead of … Versalis will produce premium synthetic resins ... A corrected story follows.

SINGAPORE (ICIS)--South Korea’s LG Chem has signed a Memorandum of Understanding (MoU) with Italy’s Versalis to establish a strategic partnership aimed at entering the European synthetic resins market, Versalis said in a news release on Thursday.

Versalis is the chemical business of Eni, which has a significant market share in Europe.

Versalis will import premium synthetic resins from LG Chem, using the South Korean company’s proprietary polymerisation technology known as metallocene catalyst, according to the news release.

A major outcome of the MoU is a contract for LG Chem to supply Versalis with metallocene linear low density polyethylene (MLLDPE).

MLLDPE is often used to manufacture agricultural and industrial film.

By: Dolly Wu
+65 6780 4359

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