MOSCOW (MRC) -- Hanwha Chemical is in plans to shut two low density polyethylene/ethylene vinyl acetate (LDPE/EVA) swing plant for maintenance turnaround, as per Apic-online.
A Polymerupdate source in South Korea informed that while one plant is planned to be shut in September 2015, the other is likely to be shut in October 2015. Both are planned to remain off-stream for around 5-10 days.
Located at Ulsan and Yeosu in South Korea, the plants have a combined production capacity of 427,000 mt/year.
As MRC wrote previously, in November 2014, South Korea's Samsung Group said it was selling stakes in four chemical and defence firms for 1.9 trillion won (USD1.72 billion) to Hanwha Group, the latest move in the massive task of restructuring the country's largest conglomerate.
Hanwha Group, South Korea's 10th-largest conglomerate, said separately the acquisitions would boost its petrochemicals and defence-related businesses, and add around 12 trillion won in sales based on 2013 figures.
MRC