Issue Date: July 27, 2009
LG Chem, CNOOC Set China ABS Venture
LG Chem and China National Offshore Oil Corp. have set up a joint venture that will invest $370 million in an acrylonitrile-butadiene-styrene (ABS) plant in southern China. The engineering plastics facility will be built in two phases, starting with a 150,000-metric-ton-per-year unit that will begin production in 2011; capacity will be doubled in 2013. LG Chem already operates ABS plants with a capacity of 600,000 metric tons in Ningbo, in eastern China.
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