大林産業　　

　　　　　　　　　　　　　　大林産業、ＨＤＰＥ事業売却検討

History　　　　　　　　　　　　　　　　　　　　　　　　　　

The Daelim Group started in 1939 as a lumber operation named Boolim Company. In 1947, the company was renamed Daelim industrial Co., Ltd. which completed Korea's first-ever overseas construction project in the 1960s. In additon, the group has been involved in many construction projects of historical proportions in Korea, including petrochemical plants in Yosu and Ulsan, fertilizer plants, the Seoul-Pusan Expressway, power plants, and harbors. Daelim acquired Honam Ethylene Co., Ltd. in 1979, and that operation was merged with Daelim industrial Co., Ltd. in 1987, setting the stage for a new round of growth. On the 50th anniversary of the group foundation (1987), the Daelim Group proclaimed a second foundation and embarked on an ambitious plan for leadership.

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　　　　　Yeochun NCC 　(Joint Venture between Hanwha Chemical and Daelim, 50:50)

　　大林産業　扱い製品：ＨＤＰＥ、ポリブテン、加工製品
　　　　　　　　　
　　　　　　ナフサクラッカー　　ハンファのクラッカーと統合　→　Yeochun NCC
　　　　　　　ＬＤＰＥ　　　　　　　　 ハンファに譲渡
　　　　　　ＰＰ　　　　　　　　　　 ポリミレイに譲渡

　　　　　　　　ポリミレイ資本構成
　　　　　　　　 大林産業�� ５０％
　　　　　　　　 モンテル・エスディーケイ・サンライズ�� ３０％
　　　　　　　　 バセル・インターナショナル・ホールディングス社 　８％
　　　　　　　　 台湾ポリプロピレン�� １２％

HDPE

HDPE is manufactured using two kinds of process.
One is the Supported Chrome Catalyst-Slurry Process, which was developed by Phillips 66 in U.S.A., a world renowed company in the field of catalyst technology. By this Process, the control of molecular weight and its distribution is easily made and products may be modified according to customer's requirements. The use of a chrome catalyst eliminates the risk of corrosion of processing machinery due to residual chlorine.
The Other is the Spherilene Process that was first developed by Montell, the largest Polyolefin Manufacturer in the world, which Daelim has commercialized first time in the world.

POLYBUTENE

- Daelim undertook the development of polybutene synthesis process as a research project to enhance the value of C4-raffinate-1
- Daelim became the first Korean company to succeed in the synthesis of Polybutene in 1986.
- To commercialize this thchnology, Daelim built a pilot plant in 1989 and engaged in operation and sales of sample product.
- After quilty improvement and process evaluation were achieved, Daelim constructed plant in 1993.

Daelim Industrial

Asia Chemical Weekly 2003/8/20

Korean Daelim mulls divesting hdPE plant to Basell

South Korea’s Daelim Industrial is considering inviting Basell to take a majority stake in its 380 000 tonne/year high density polyethylene (hdPE) plant at Yeochun. The plant would subsequently be converted to a polypropylene (PP) plant, a source close to Daelim sail.

Basell and Daelim are already equal partners in PolyMirae, a 530 000 tonne/year PP player also sited at Yeochun. Basell was not immediately available for comment.

The other option for Daelim if Basell is not interested would be to sell off the hdPE plant to an interested party.

The company hopes to go through with the hdPE divestment or sale some time next year.

Daelim hopes to divest most of its petrochemical assets in the next couple of years, keeping a minority interest for itself. The assets include a 70 000 tonne/year polymer compounding plant, a 35 000 tonne/year pipe-processing plant and a 25 000 tonne/ year biaxially oriented PP (BOPP) film plant in addition to the hdPE and PP plants.

This marks another shift in Daelim’s strategy. The company said in June that it was frustrated by its inability to divest its petrochemicals assets, and was considering realigning its petrochemicals business to bring it closer to its core engineering and construction operations.

At the time, the company said it was not considering attracting a partner to consolidate its PP and PE businesses. Nor would it sell its stake in its cracker joint venture with Hanwha Chemical-Yeochun National Cracker Centre (YNCC).

The company claimed at the time that it had been on the lookout for a partner to consolidate its business in South Korea, but had been unable to find a deal that was attractive to all parties involved. It had therefore decided to produce more speciality-grade polymers for the construction business, as opposed to commodity-grade general-purpose polymers.

The company said at the time that it aimed to change the speciality-to-commodity ratio to 55:45 from 30:70 by retooling its plants at Yeochun.