Lotte Chemical 
   http://english.lottechem.com/01_Introduce/index.asp

    Honam Petrochemical and KP Chemical merged into a new company

　

　

January 11/2013

Honam Petrochemical and KP Chemical to merge into Lotte Chemical Corporation

A major South Korean pertochemical and polymer producer, Honam Petrochemical, and one of the largest South Korean PET and PTA producer, KP Chemical, has decided to merge into a new company with a new name Lotte Chemical Corporation, wrote Soo Young Huh, the President and CEO of Lotte Chemical Corporation, in his letter to the company's business partners.

After undergoing a sizable growth, Honam Petrochemical Corp and Kp Chemical Corporation took one step further through a merger between the two companies, which was effective as of December 27, 2012.

The name of the new company will be LOTTE CHEMICAL Corporation. The newly formed company believes that this move will strengthen its position both in domestic and international markets and is in a line with Lotte Chemical's strategy to become a leading global company.

Honam Petrochemical Corporation is a South Korean producer of petrochemicals and polymers with its businesses comprising of polyethylene (PE), high density polyethylene (HDPE), polypropylene (PP), mono ethylene glycol (MEG), ethylene, propylene, benzene, compound polypropylene, and other petrochemical products, providing plastics, synthetics and basic chemicals. It holds the largest shares in HDPE, polyethylene and MEG in the Korean market. The company also supplies its production to the Russian market. As per MRC DataScope, in January-November, 2012, the import volumes of polymers by Honam Petrochemical to Russia amounted to about 36,000 tonnes, out of which PE makes 25,346 tonnes, PP - 5,326 tonnes, PET - 5120 tonnes. It is worth noting that in 2011 the company did not deliver its material to the Russian market.

KP Chemical Corporation is one of the largest South Korean polymer companies, which annually produces 740,000 tonnes of paraxylene, 955,000 tonnes of PTA and 446,000tons of PET by using the vertically combined production system established in the Ulsan Plant Complexes 1 and 2. More than 90% of the company's products are exported throughout the world. The major markets pioneered through the company's robust sales network are China, Russia and Europe. According to MRC DataScope, the import volumes of KP Chemical to Russia declined almost twice in January-November, 2012, and amounted to 31,400 tonness, while during the same period of 2011, this index made about 61,000 tonness. Despite the sharp decline in sales in Russia, KP Chemical continues to occupy the leading position among foreign producers in the Russian PET market.

朝鮮日報　2015/06/19

ロッテケミカル、米石化プラントに投資

ロッテケミカルは18日、米石油化学メーカーのエクシオールとルイジアナ州に合弁でエタン分解プラントを建設するため、2兆9000億ウォン（約3230億円」を投資する内容の契約を結んだと発表した。

同プラントではシェールガスに産出するエタンを使い、石油化学原料のエチレンなどを生産する。石油製品のナフサからエチレンを生成するよりも効率が高い。両社は昨年2月、出資比率を折半出資とすることで合意していたが、今回の本契約ではロッテケミカル90％、エクシオール10％に変更された。

プラント稼働後、ロッテケミカルのエチレン生産量は現在の年280万トンから370万トンに増える見通しだ。

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2015/6/19　manufacturing.net

Lotte Chemical Investing $2.6B In Two Joint Ventures

Korea-based Lotte Chemical Corp. has announced two joint ventures worth $2.9 billion that will help produce fabrics for Japan’s Mitsubishi.

The first venture is for an ethane cracker plant. Its site hasn’t been finalized but it is anticipated to be near Lake Charles, La. 　

Lotte will hold 90 percent of the plant and Axiall will hold 10 percent. The companies anticipate that the plant will produce a million tons of ethylene a year.

Georgia Gulf は2013年1月にPPG Industriesのcommodity chemical divisionと合併し、Axiall Corp.となった。

Ethylene from the plant will then be used to make 700,000 tons of ethylene glycol, an ingredient used in polyester fibers for Mitsubishi. The ethylene glycol will be processed in a plant adjacent to the cracker that Lotte will hold a 70 percent stake in, with Mitsubishi holding the rest.   

According to regulatory filings seen by Reuters the project will also be run as a joint venture, this time with Japan’s Mitsubishi Corporation.

The plans still need approval from the companies’ boards of directors.

Lotte Chemical owns three crackers in Asia that produce more than 2.8 million metric tons of ethylene annually.
“We are pleased to affirm our partnership with Axiall to develop a world-scale ethane cracker fed by U.S. shale gas,” said Soo Young Huh, Lotte Chemical CEO. “This investment will build on Lotte Chemical’s global ethylene construction and operating capabilities and increase our manufacturing presence in the North American market.”

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Business Korea

Lotte Chemical Corp. plans to set up a shale gas-based ethane cracker plant in the U.S. It is a large overseas chemical plant business with investment approaching 3 trillion won (US$2.72 billion).

Lotte Chemical and Axiall Corp. of the U.S. have finalized their joint venture arrangements to construct the ethane cracker plant in Louisiana on June 17 (local time). The project will produce ethylene, a basic petrochemical raw material derived from existing crude oil using shale gas-based ethane gas instead of naphtha.

Previously, the two companies had signed a basic contract for a joint venture in Feb. last year. With the final contract this time, they changed the amount of ownership and project details. At the time of the basic contract, Lotte Chemical and Axiall held a 50-50 ownership agreement. However, it was decided that Lotte Chemical will invest 90 percent while Axiall invests 10 percent in the plant.

With the change of ownership percentages, Lotte Chemical and Axiall will take 900,000 tons and 100,000 tons of ethylene, respectively, from an annual production capacity of 1 million tons of ethylene. Lotte Chemical agreed to sell 400,000 tons to Axiall, securing a stable source of demand.

Lotte Chemical will use the remaining 500,000 tons of ethylene to make ethylene glycol (EG) as planned earlier. The company is currently considering cooperating with Mitsubishi of Japan in a bid to stable its EG business, which was supposed to be run by itself. If so, Lotte will hold a 70 percent stake in the business, with Mitsubishi holding the rest. EG is often used in making synthetic fibers and automotive engine antifreeze fluid.

Combining the ethane cracker plant and EG business, the investment for the project is estimated at 2.9 trillion won (US$2.63 billion). However, both companies will decide the final investment in the second half of this year when the plan for engineering, procurement, and construction (EPC) becomes clear. They plan to begin commercial production at the end of 2018. Through the joint project, Lotte Chemical expects to generate US$1.5 billion (1.65 trillion won) in revenue every year from 2019.

Since the production cost of ethylene produced in an ethane cracker plant is a third of that produced in a naphtha cracker plant, petrochemical companies scramble to invest in the sector in order to reduce costs and diversify raw materials.

Once the joint venture with Axiall starts commercial production, the annual ethylene production capacity of Lotte Chemical will increase from the current 2.8 million tons to 3.7 million tons.

An official from Lotte Chemical said, “The project will reduce dependence on naphtha and increase the use of low-priced gas together with the Surgil chemical complex project in Uzbekistan, which will be completed in the second half of this year. It will play a crucial role in strengthening its global competitiveness through diversifying raw materials, production bases and sales areas.”

ウズベキスタン

ウズベキスタンのアラル海に近いSurgil ガス田を開発し、ガス化学プラントを建設する総額41億6千万ドル規模の超大型プロジェクト契約が8月23日に締結された。

2006年に韓国ガス公社(KOGAS) とウズベキスタン国営ガス公社（UNG) が了解覚書を締結し、2008年に双方が50%ずつ出資する合弁会社(Uz-Kor Gas Chemical) を設立し交渉を続けてきた。

UZ-KOR 株主

ウズベキスタン Uzbekneftgaz（UNG)     50.0%
韓国 韓国ガス公社（KOGAS） 17.5%
湖南石油化学
（当初は子会社のロッテ大山石化）		 17.5%
STX Energy（双竜グループ） 5.0%
LG International 5.0%
SK Gaz 5.0%

今回、GS Engineering & Construction、Samsung Engineering、Hyundai EngineeringとUNG、UZ-KORがガス田開発とパイプライン建設に対する契約を結んだ。韓国3社はまた、ガス設備、エタン分解設備、エチレン製造工場、付帯設備などの契約文書に署名した。

Surgil のガス埋蔵量は1300億立方メートルで、液化天然ガス換算で9600万トン、原油換算で8億3000万バレルに上る。

2011/8/29  　韓国の李大統領、中央アジア3か国歴訪、ガス田開発、石化事業などで合意　

Ustyurt GCC(gas-chemical complex）at Surgil field will process 4.5  bcm of gas and annually from gas-condensate Surgil, East Berdakh and North Berdakh fields and other fields respectively.
The processed products shall include 400 thousand tons of high-density polyethylene (HDPE), 100 thousand tons of polypropylene, sales gas, py-gas and py-oil. In addition, the Ustyurt GCC shall sell excess electricity generated in excess of its needs.

June 21, 2012
KBR announced today that it will provide an integrated technology, engineering, procurement and construction support solution for Uz-Kor Gas Chemical’s flexible feed, 400,000 metric ton per year ethylene plant in the Ustyurt region of Uzbekistan. The plant will be the first ethylene plant based on KBR’s license in Uzbekistan and will utilize KBR’s proprietary SCORE™ (Selective Cracking and Optimum Recovery) technology.

June 7, 2016 WSJ　　　　　　6/10 撤回

Lotte Chemical Steps Into Battle for Axiall
　South Korean group is offering more than $2.6 billion for U.S. company

A top South Korean conglomerate has lobbed an unsolicited bid of more than $2.6 billion into an already messy U.S. proxy battle, becoming the latest Asian company to make waves in its hunt for overseas assets.

The offer from Lotte Chemical Corp. , disclosed in a regulatory filing Tuesday morning in Seoul, injects Lotte into a battle for control of Atlanta-based Axiall Corp. Earlier this year, the U.S. chemicals company rejected two unsolicited bids from Houston-based Westlake Chemical Corp. as “opportunistic and inadequate.”

2016/2/4　Westlake Chemical、Axiall に14億ドルでの買収を提案、拒否される

Westlakeは4月4日、新提案を行った。

買収額は約15億ドルの債務込みで31億ドル、ネットで16億ドル（←14億ドル ）となる。

Westlake has launched a proxy fight, and is urging shareholders to approve its slate of candidates to replace the board of Axiall at Axiall’s annual shareholders meeting on June 17.

Lotte Chemical has teamed up with Axiall in the past on investment projects in the U.S., and it might be hoping its offer will get a friendlier greeting than Westlake’s. Axiall and Westlake spokesmen couldn’t immediately be reached for comment Tuesday after Lotte disclosed its bid.

韓国の Lotte Chemicalは2015年6月18日、ルイジアナ州に2つの石油化学JVを設立すると発表した。

第一のJVはシェールガスに付随するエタンを分解し、エチレンを生産するもので、 Lotte Chemicalが90%、Axiall Corp.が10%出資する。
立地は最終的には決まっていないが、Lake Charles近郊とされている。

2015/6/22  韓国 Lotte Chemical、米国で石油化学

Asian companies are taking up more bidding wars for overseas targets, highlighting their rising confidence as they seek growth abroad. This year’s 17 such unsolicited takeovers—either pending or completed—is the highest number at this point since 2008, and the $54.9 billion deal value is a record, according to Dealogic.

Lotte’s bid is among the largest, but the bulk of these uninvited Asian offers come from ambitious Chinese companies such as Anbang Insurance Group Co., whose failed $14 billion bid for Starwood Hotels & Resorts Worldwide Inc. attracted global attention in March.

Unsolicited bids are relatively uncommon in the world of big acquisitions; most pursuers opt instead to negotiate in private with a company’s management before placing a public offer. These Asian bids also stand out for their size: In many instances this year, they have represented a big premium to their foreign rivals’.

Lotte Chemical’s bid is a relatively modest one by that measure. And in general, South Korean companies haven’t often shown as much appetite as Chinese companies for entering U.S. takeover battles uninvited.

When they have, they haven’t always gotten results. The largest of these offers— Samsung Electronics Co. ’s $5.85 billion bid for U.S.-based SanDisk Corp. in 2008—was withdrawn after several rebuffs.

The size of Lotte Chemical’s bid wasn’t disclosed in the regulatory filing, and a spokeswoman for the Lotte Group said only that it was more than three trillion won ($2.6 billion). Axiall’s market capitalization was $1.6 billion, based on Monday’s closing price in New York. Its shares were up 9.4% at $25.49 on Tuesday morning.

If successful, a deal would further consolidate the chemicals sector, following the merger of DuPont Co. and Dow Chemical Co. , announced in December, and ChemChina’s $43 billion acquisition of Swiss seed and pesticide company Syngenta AG , expected to close this year.

Westlake’s initial bid came in January, after a bruising 2015 for Axiall, when falling sales and profit sent its share price tumbling 64%. After being snubbed, Westlake sweetened its offer to $3.1 billion, including the assumption of $1.5 billion in debt.

Lotte Chemical’s bid comes at a delicate time for South Korea’s fifth-largest conglomerate, whose interests are as diverse as chemicals and chewing gum. Last year it went through a boardroom coup in which Shin Dong-bin, second son of Lotte’s nonagenarian founder, ousted the heir apparent, his older brother. Last month, Mr. Shin filed for an initial public offering of the conglomerate’s centerpiece, Hotel Lotte Co., that would be South Korea’s largest IPO to date if the shares price at the top end of the indicated range.

But last week, South Korean authorities raided the offices of Hotel Lotte’s lucrative duty-free shopping business, the source of most of its revenue and profit. The authorities also raided the home of Shin Young-ja, a sister of Mr. Shin and a top group executive.

South Korean media reports said prosecutors are looking into whether a local cosmetics company paid bribes in exchange for floor space at Lotte’s duty-free retail outlets.

Hotel Lotte confirmed that the raids occurred, but declined to comment further about the matter. Ms. Shin couldn’t be reached for comment. The Seoul Central District Prosecutors’ office declined to confirm any details of the probe.

Hotel Lotte, which delayed the investor roadshow for its IPO because of the investigation, said in a filing Tuesday that it would postpone its listing by several weeks and lower the range at which it plans to sell its shares to investors—though the high end of the new range would still put it in record territory.

Lotte Chemical shares fell 3.5% on Tuesday in Seoul after its bid was disclosed, to 260,500 won ($223.95), the lowest level since January.
　

November 23rd, 2017　　　

Lotte Versalis Elastomers: a new industrial complex in South Korea

A new integrated industrial complex for the production of elastomers was launched today in Yeosu, South Korea. The launch was attended by the local authorities, the Ambassador of Italy to Korea and major customers.

The new plants of Lotte Versalis Elastomers, a 50:50 joint venture between Versalis (Eni), a global leader in the elastomers business, and Lotte Chemical, a major petrochemical company headquartered in South Korea, have been built in a record time of 26 months and in conformity with sustainability principles, thanks to the use of the most advanced European technological standards. This important achievement is part of Eni's strategy to transform its chemical business also through international development.

The joint venture, established in 2013 with the aim of targeting growth in the Asian elastomers market, uses Versalis' technology, industrial expertise and commercial network, as well as Lotte Chemical's site integration, which ensures the availability of feedstocks and industrial facilities.

The industrial complex has a nameplate capacity of 200 kton/year of elastomers (EPDM, Ethylene-Propylene Diene Monomer; s-SBR, solution-Styrene Butadiene; BR, Butadiene Rubber). The production streams are targeted to premium application segments, mainly tyre and automotive industries, styrenics modification and technical goods.

'The construction of the first industrial complex in Asia is an important milestone in Versalis' international development strategy, which leverages valuable proprietary technologies. It also strengthens our leading position in the global elastomers market and other prospects for growth. We are excited to be working on this project with an established partner such as Lotte Chemical. By joining forces, both Versalis and Lotte Chemical are benefitting from important synergies.' says Versalis' CEO, Daniele Ferrari.

Versalis is present in the Asia-Pacific region through its commercial units in Shanghai, Qingdao, Mumbai and Singapore.



VersalisはEni 子会社で旧称Polimeri Europa。扱い製品は、Intermediates、Polyethylene、Styrenics、Elastomers。

Polimeri Europa changes name and becomes Versalis 


　

 
　
トランプ氏、韓国ロッテ会長と面会−米ルイジアナ州に化学工場建設で

トランプ米大統領は13日、ルイジアナ州での新規経済プロジェクトの後押しを目的とする同州訪問を翌日に控え、ホワイトハウスで韓国ロッテグループの辛東彬（日本名：重光昭夫）会長と面会した。ロッテは同州に化学工場を建設した。

ルイジアナ州レイクチャールズにあるロッテの化学工場は、プラスチック業界で使用される原料エチレンを年間100万トン生産する見通し。同工場は先週の式典で正式にオープン。ルイジアナ州経済開発局によれば、工場の建設および利用で州内に2500人の雇用が創出されると見込まれている。

辛会長との面会は同日のトランプ大統領の公式日程では明らかにされておらず、ジャーナリストには公開されなかった。

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5/13　Twitter

Great to welcome Chairman Shin from Lotte Group to the WH. They just invested $3.1 BILLION into Louisiana-biggest investment in U.S. EVER from a South Korean company, & thousands more jobs for Americans. Great partners like ROK know the U.S. economy is running stronger than ever!
　

 

　

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2019/5/14　日本経済新聞

韓国ロッテ、米化学工場に920億円追加投資へ
辛会長がトランプ氏に方針伝達

韓国ロッテグループは、米国南部で完成したばかりのシェールガス由来のエチレン工場に約1兆ウォン（約920億円）を追加投資する。辛東彬（重光昭夫）会長が13日、トランプ米大統領と会談し、意向を伝えた。2030年に化学業界で現在の世界22位から7位に上がる目標の達成に向けて攻勢をかける。

ロッテ傘下のロッテケミカルは、16年に米ルイジアナ州でシェールガス由来のエチレン工場を着工し、5月9日に完成させた。同工場の生産能力は年100万トン。追加投資によって5年以内に140万トンまで引き上げる。

ロッテケミカルは既存投資を含め、新工場に約4兆6千億ウォンを投じる計算だ。同社全体のエチレン生産能力は年約450万トンで、米国は韓国の230万トンに次ぐ規模になる。シェールガス関連の事業は原油価格の変動リスクを抱えるが、ロッテ関係者は「原油価格は上昇基調にあり、勝算はある」と強調する。

新工場の完工式に合わせて訪米中の辛会長は13日、ホワイトハウスで韓国財閥の総帥として初めてトランプ氏と会談し、米国における化学とホテルの事業概要を説明した。トランプ氏は会談後、ツイッターに「韓国の偉大なパートナーたちは、米国経済が力強く成長することを理解している」と投稿。ロッテ側によると、会談では「米韓両国が関係を強化するための協力案も話し合われた」という。

米韓両政府の間には、対北朝鮮政策をめぐってすきま風が吹く。こうした中、韓国国内では「経済界が率先して強固な韓米関係を訴える必要がある」（大手財閥幹部）との声が強まっている。米国が保護貿易色の濃い政策を推進するなか、経済の結びつきの強さをアピールして、韓国に不利な政策が実施されるのを避けたいとの思惑がある。

ロッテ以外の韓国企業では、サムスン電子が20年までに15億ドル（約1650億円）を投じてテキサス州オースティンの半導体工場を増強する。LG電子は2億5千万ドルを投資して19年にテネシー州で新設の洗濯機工場を稼働させる。同社にとっては米国初の白物家電工場になる。

いずれも17年の文在寅（ムン・ジェイン）大統領の訪米の前に公表された計画で、米国の理解を得るには計画の更新が必要との見方もある。

　

May. 11, 2019 東亜日報

ロッテケミカル、ルイジアナ州に3兆5000億ウォンを投資して石油化学工場を完成

９日（現地時間）、米南部の油田地帯ルイジアナ州の石油化学基地「レイクチャールズ」。豪雨が降ったこの日、米国を世界最大の原油生産国にした「シェールガス革命」の中核拠点だここに、韓国石油化学企業が米シェールガス市場に公式に挑戦状を叩きつけた。ロッテケミカルは3年間、計3兆6000億ウォンを投資して、今年エタンクラッカー・エチレングリコール（ＥＧ）プラントを完成し、同日の完成式典と共に本格的な市場競争に突入した。

サッカー場152個規模（102万平方メートル）の敷地に建てられたこの工場は、韓国企業が米国に建設した初の大規模な石油化学プラントだ。原油から出た「ナフサ」で作る一般的な「ナフサクラッカー（ＮＣＣ）」プラントと違って、生産単価が下落を続けている米国産シェールガスの副産物である「エタン」を利用して注目を集めている。世界３大「オイルハブ」と呼ばれるメキシコ湾のシェールガスの集散地「モントベルビュー」から約200キロに及ぶガス管を通して供給されたエタンは、この工場でプラスチックのペットボトルとポリエステル繊維の原料として使われ、「石油化学の米」と呼ばれるエチレンに変身する。

2012年にシェールガスブームが起きると、米シェールガス市場への進出を取り仕切ったロッテグループの辛東彬会長はこの日の完成式典で、「ロッテケミカルは、米国に世界的規模の２つの石油化学プラントを投資して建設した韓国初の石油化学企業になった」とし、「グローバルエチレンの生産量が現在の350万トンから年間450万トンに増えて韓国１位、世界第７位の規模に飛躍するだろう」と宣言した。この工場は、エチレンを年間100万トン、不凍液および合成繊維などの原料であるＥＧを年間70万トン生産する。このうち６０％を欧州やアジアなど、米国外に輸出する計画だ。米国の「資源」と韓国の「技術」が結合した生産基地が誕生したのだ。

ドナルド・トランプ米大統領は同日、完成式典に出席したシルビア・デイビス・ホワイトハウス政策調整副補佐官を通じて「韓国企業が米化学工場に投資したものとして最大規模のこの投資は、米国の勝利である共に韓国の勝利でもある。両国の同盟が頑丈なことを示す証拠だ」とお祝いのメッセージを送った。李洛淵（イ・ナギョン）首相も完成式典に出席して、「この工場の完成が韓米同盟の証拠なら、工場の発展は韓米同盟の発展の証拠になるだろう」と前向きに回答した。

シェールガスの副産物であるエタンで作られたエチレンの生産費は、原油から出た「ナフサ」で作られた同じ製品の半額に過ぎない。シェールガスの生産単価が下落を続け、米国産シェールガスは世界エネルギー産業と石油化学業界の勢力図を変える「ゲームチェンジャー」と呼ばれる。先月２８日、蔚山（ウルサン）工場に、ロッテケミカル米国工場で初めて生産したＥＧ製品１万４５００トンを積んだ船が到着し、韓国も「シェールガス革命」の風が吹いてきている。世界経済が減速する中、安価なシェールガス石油製品の供給が拡大すれば、コスト競争力の落ちる企業をはじめ、石油化学業界の「玉石選別」に拍車がかかると予想される。

ロッテケミカルＵＳＡは、今年は売上6000億ウォンに営業利益2000億ウォン、来年は売上９０００億ウォンに営業利益３３００億ウォンを予想している。営業利益率が３０％を超えることになる。

第２次シェールガスブームに備えて10億ドルを投資し、現在100万トン規模のエチレン生産設備を140万トンに増設する案も検討している。キム・ギョヒョン・ロッテケミカル化学ＢＵ長は、「現在、世界22位の化学部門の売上を10年以内に50兆ウォン規模に引き上げて、世界７位に躍進する計画だ」と明らかにした。

　

2019年07月15日　中央日報　　　　　　

ロッテとGS、石油化学合弁会社設立で競争力強化へ

ロッテグループとGSグループが石油化学事業の競争力強化をねらって合弁会社を設立することにした。

2005年1月、LGはLG Corp とGS Holdingsに分離した。

ロッテケミカルとGSエネルギーは１５日、ソウルで、ビスフェノールＡ（ＢＰＡ）とＣ４留分などの製品を生産する合弁会社「ロッテGS化学株式会社」（仮称）の設立契約を締結した。

今回の契約で２社は今年下半期に合弁会社を設立する予定で、ロッテケミカルが５１％、GSエネルギーが４９％の持分を所有する。新たな合弁会社は２０２３年までに合計８０００億ウォン（約７３２億円）を投資して年間ＢＰＡ２０万トンとＣ４留分２１万トンを生産できる工場を建設する。

ＢＰＡは電気・電子製品、医療用器具や自動車ヘッドランプケースなどに使われるプラスチック「ポリカーボネート（ＰＣ）」の原料として使われる製品であり、Ｃ４留分は炭化水素混合物として合成ゴム原料であるブタジエン（ＢＤ）と人口大理石の原料であるＴＢＡ（ターシャリーブチルアルコール）などを生産するために使われる。

工場はロッテケミカル麗水（ヨス）第４工場内の約１０万平方メートルの敷地に入り、年間売上額は１兆ウォン、営業利益は１０００億ウォンに達するだろうと２社は見込んでいる。GSエネルギーの許榕秀（ホ・ヨンス）代表は「エネルギー事業の競争力を一層強化しながら、同時に事業ポートフォリオを多角化する契機になるだろう」と述べた。

　

2020/05/20 朝鮮日報

韓国ロッテケミカル　昭和電工株を買い入れ

韓国の化学大手ロッテケミカルは5月20日、日本の昭和電工の株式4.69％を1700億ウォン（約149億円）で買い入れたと発表した。

ロッテケミカルと昭和電工は、日立グループが昨年進めた日立化成の売却で、共に入札に参加。昭和電工が交渉権を得たという経緯がある。

韓国ロッテグループの辛東彬（重光昭夫）会長はこの日行われた役員会議で、「コロナ後」の時代に対応するため未来の成長が可能な分野への投資を集中的に行う必要があると強調した。

また、辛氏は3月に日本メディアと行ったインタビューで、化学分野で有力な技術を持つ日本企業の買収を検討していると明らかにしたことから、業界では昭和電工株の買い入れが買収につながると見る向きがあるものの、ロッテ側は「収益を出すための単純な投資」と説明した。

　

 2023-01-10 　

韓国公取委、ロッテケミカル米子会社による韓国の銅箔メーカーIljin Materials 買収を承認

  • 韓国公正取引委員会は1月10日、ロッテケミカルの米国子会社によるIljin Materials 買収を承認した。 ロッテケミカルは、Iljin Materialsズの株式53.5%を約2兆7000億ウォン ($1.9 billion) で取得する契約を昨年10月に締結した後、公取委に企業結合を申告した。
    Oct 11, 2022

    South Korean business conglomerate Lotte Group has signed a deal to acquire a controlling stake in Iljin Materials, a copper foil supplier to electric vehicle battery makers for 2.7 trillion won ($1.9 billion), in Lotte's move to enhance the EV component portfolio, filings showed Tuesday.

    Lotte Battery Materials USA, a subsidiary of Lotte's petrochemical arm Lotte Chemical, will buy a 53.3 percent stake, or 24.6 million ordinary shares, in the world's fourth-largest copper foil manufacturer from Chief Executive Officer Huh Jae-myung and two other shareholders.

    The deal will give Lotte Chemical the rights to exercise stock warrants to buy an additional 5 million shares. According to the filing with the Financial Supervisory Service, the deal is expected to close by February 2023.

    Lotte Chemical said in the filing that the acquisition is meant to expand its battery material business. It has earlier pledged to invest 4 trillion won in the field of secondary battery materials by 2030. Most recently, Lotte Chemical's US arm in July announced a plan to build a battery material plant in Kentucky by 2025 that could manufacture 36,000 metric tons of aluminum foil.

    Iljin Materials logged a 46.8 billion won operating profit in the first half of this year, up 33.5 percent from the previous year. It holds a 13 percent of market share in the world by sales of copper foils for EV batteries, followed by Korea-based SK Nexilis and Chinese rivals Watson and Chang Chun, according to SNE Research.

    Iljin Materials has supplied the battery material to Korean lithium-ion battery makers LG Energy Solution and Samsung SDI. It boasts some 60,000 tons of copper foil production capacity annually, with manufacturing plants in Malaysia and Korea. The company plans to add 230,000 tons of capacity by 2027.

     
    公取委は両社が相互競争関係(水平結合)や原材料依存関係(垂直結合)ではない異種市場事業者間の結合だが、分離膜原料および銅箔は2次電池を構成する核心素材で、関連市場の特性上、補完性が存在するという点を考慮した。
     
    市場での競争変化を検討した結果、公取委は世界の分離膜原料および銅箔市場は多数の有力な事業者が競争する破片化された市場であり、当社が関連市場で占める比重が大きくないと判断した。
     
    世界の銅箔市場でIljin Materialsズのシェアは5%前後、電池用または電気自動車バッテリー用銅箔市場に限定する場合にも10%前後と推定される。 
    　

    • Iljin Materials は、主に電気製品の製造・販売を行う韓国を拠点とする会社である。

    主な製品には、充電式アノード集電装置用電極、フレキシブルプリント回路基板（PCB）用の高柔軟性・薄型電極、PCB用キャリア付き超薄型電極、充電式電池のアノード集電装置用の高容量・高出力電極、パッケージ基板用の薄型・高強度電極、PCB用電極が含まれる。また、子会社を通じて建築外装工事、請負工事を行う。

    　

    March 7, 2024 

    Lotte, LG in talks to sell petrochemicals plants

    Korean petrochemicals firms are downsizing their businesses as they are grappling with lower demand and higher supply of products from China, according to industry sources Thursday.

    Lotte Chemical, South Korea’s leading petrochemicals company, has reportedly embarked on the process of selling its Malaysian unit Lotte Chemical Titan Holdings.

    In addition, its domestic rival LG Chem is said to be in talks with Kuwait Petroleum Corp. to sell a stake in its naphtha cracking center in Yeosu, South Jeolla Province.

    Lotte Chemical is currently tapping both local and foreign companies, as well as global private equity firms to sell its share in Lotte Chemical Titan, the company’s manufacturing facility in Malaysia, according to local reports. Lotte Chemical is expected to sell its 74.7 percent in the Malaysian arm, a leading petrochemicals firm in Southeast Asia worth some $566 million based on its market capitalization.

    In 2010, Lotte Chemical acquired full ownership of LC Titan from Malaysia’s Chao Group for around 1.5 trillion won ($1.13 billion). In 2017, the company went public in the Malaysian market at a value of some 4 trillion won.

    Until the late 2010s, LC Titan posted 300 billion-500 billion won in annual sales. But after years of sluggish sales, the company posted a 61.2 billion won of operating loss in 2023. The market capitalization of the Malaysian arm also plunged to some 744 billion won as of Thursday.

    Sources say Korean petrochemicals firms are struggling to compete with Chinese rivals that are expanding extensively in Southeast Asia to make up for losses at home.

    To avoid increasing competition in the sector, LG Chem has been also reportedly trying to spin off its second naphtha cracking center plant in Yeosu and sell its stake in the plant. The company hopes to sell a 49 percent stake in the second such plant to the Kuwait energy firm while maintaining the remaining 51 percent stake, local reports said.

    Both companies, Lotte Chemical and LG Chem, however, said that nothing has been confirmed yet, dismissing the speculations at least for the moment.

    The shift away from basic petrochemicals seems inevitable for the nation's top chemical firms, according to an official from a local petrochemicals firm.

    “It is now very difficult to win price competition with Chinese companies when it comes to basic chemical products,” the official said. "Local petrochemical firms will have to shift to next-generation materials to survive in the industry."
    　

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    2024-03-12

    LG, Lotte, Kumho move to sell petrochemical plants amid China-driven glut
    　

    A growing number of Korean petrochemical companies are halting investments and considering selling their unprofitable facilities to cope with the lingering industry downturn resulting mainly from the oversupply of Chinese products, according to industry officials, Tuesday.

    LG Chem is reportedly negotiating with Kuwait Petroleum Corp. to split off its second naphtha cracking center in Yeosu, South Jeolla Province, and sell part of its stake in the facility to the Middle Eastern country’s state-owned company.

    This came after the Korean firm failed last year to find an eligible buyer of the factory who could afford at least 3 trillion won ($2.3 billion).

    “We are considering various options to enhance the competitiveness and value of our petrochemical business, but nothing has been decided yet,” the chemical unit of LG Group said in its regulatory filing.

    Lotte Chemical is said to be trying to sell Lotte Chemical Titan, its manufacturing plant in Malaysia, which produces ethylene, polyethylene and polypropylene.

    Petrochemical companies here and overseas, as well as major private equity firms, are mentioned as potential buyers of the Malaysian stock market-listed company, which is evaluated at 740 billion won. In 2010, Lotte Chemical acquired the factory from Malaysian firms for 1.5 trillion won.

    Given that the Korean firm failed twice in its attempts to sell its Pakistani subsidiary, however, it remains uncertain whether it will succeed in selling the Malaysian subsidiary.

    “We are considering various strategies regarding Lotte Chemical Titan, but nothing has been decided yet,” the chemical unit of Lotte Group said in its regulatory filing.

    Hyosung TNC, the world’s leading spandex maker, recently scrapped its plan to produce butanediol, one of the key materials for spandex, citing the rapid increase in the supply of Chinese products.

    Kumho Petrochemical confirmed it will unload its entire stake in one of the two remaining Chinese joint ventures, although the company cited environmental regulations as the reason, instead of its profitability. The company is also rumored to be selling its stake in the other joint venture, although it denied the rumor.

    In 2021, the Korean firm sold its 50 percent stake in Nanjing Kumho GPRO Chemical to its Chinese partner, Jiangsu GPRO Group, to focus on more lucrative businesses.

    Before the COVID-19 pandemic, China was the largest importer of Korean petrochemical products. The world’s second-largest economy’s reopening was therefore expected to allow LG Chem, Lotte Chemical and various other petrochemical firms here to enjoy a rebound in their profits.

    However, Chinese companies have enhanced their production capacities over the past few years, becoming the main competitors of Korean firms in the markets for ethylene and propylene. In addition, weakening demand for petrochemical products amid the global economic slowdown has curbed an increase in their prices.

    Securities analysts remained skeptical about a recovery in the petrochemical sector in the near future.

    “Producers of rechargeable battery materials or downstream products, such as synthetic resins, will be the only survivors in the petrochemical market,” NH Investment & Securities analyst Choi Young-kwang said.

    Sung Dong-won, a researcher at the Export-Import Bank of Korea’s Overseas Economic Research Institute, also advised Korean petrochemical firms to diversify their buyers and seek a transition to high value-added and eco-friendly products.