London – South Korea’s Lotte Chemical and ENI-owned Italian chemicals company Versalis SpA are to complete the construction of an elastomers joint venture facility in South Korea in June, according to Korean news sources.
The 50:50 JV, named Lotte-Versalis Elastomers (LVE), will produce 100 kilotonnes per annum (ktpa) of SSBR and 96ktpa of EPDM rubber, Korean news website e-today reported in May.
The facility, based in Yeosu, South Korea is set to start trial production with commercial production slated for the second half of the year.
The joint-venture was set up in Yeosu in 2013 and will target the tire and automotive industries with its products.
ERJ has contacted Versalis for further information.
The two companies extended an elastomers co-operation deal in April 2015 with a technology license agreement and plans to build a new facility in South Korea.
The extended partnership is focused on styrene-isoprene-styrene and styrene-butadiene-styrene (SIS/SBS) materials, particularly for the hot-melt adhesives market as well as technical and sports goods, bitumen and plastics modifiers.
The JV will use Versalis SIS/SBS proprietary technology for a 50-kilotonnes-per-annum (ktpa) plant to be constructed at Lotte Chemical’s Yeosu site in South Korea.