With an annual production capacity of 30,000 tons, the new ABS compound facility will be developed at LG Chem’s Ohio Tech Center site in the USA and is expected to meet the growing demand for high value-add ABS in the region. The company also intends to invest 100 million dollars for establishing its American and European Tech Center by 2023.
LG Chem has entered into a MOU with Veolia R&E to ensure the stable supply of chemically recycled MMA (methyl methacrylate) for producing transparent ABS (high value-added synthetic resin). Under the contract, the companies will also work together for process technology enhancement and R&D to improve the quality of recycled MMA.
LG Chem has plans to invest the hefty amount in new growth engines such as eco-friendly sustainable business, battery materials for e-mobility and global innovative new drugs by 2025. The move comes in the background of the rising demand for electric vehicles and the intention of the firm to maximize the growth potential of its existing businesses.
With the development of the propane dehydrogenation project in Pakistan to establishing large-scale green hydrogen production plants across the globe, PROCESS Worldwide brings to you the most recent engineering projects of the week.