MOSCOW (MRC) -- Malaysia-based Lotte Titan, subsidiary of Lotte Chemical, resumed operations at its naphtha cracker at the end of March, following a scheduled maintenance that started around Feb. 5, according to traders in Reuters.
The unit, which has a capacity of 430,000 tpa of ethylene.
The restart of the cracker comes at a time when demand for naphtha feedstock has been persistently strong in the last few weeks from makers of ethylene.
Titan operates another cracker which produces 290,000 tpy of ethylene. The smaller unit will undergo maintenance in the third quarter.
As MRC reported earlier, in April 2016, Lotte Chemical Corp. finalized the takeover of Samsung Group’s chemical units.The company said that it paid for money to acquire Samsung SDI Chemical on Apr. 29 and completed the acquisition of Samsung Group’s chemical businesses in about six months after the announcement of "Big Deal" in October 2015. Samsung Fine Chemicals, which was completely taken over by Lotte in Feb., changed its name to Lotte Fine Chemical, while SDI Chemical, which completed the acquisition process on the 29th, changed its name to Lotte Advanced Materials through the general meeting of stockholders.
Established in 1976, Lotte Chemical has been solidifyng its position by localizing cutting-edge petrochemical technologies. Among the high-quality products produced by Lotte Chemical through its efficient processes are ethylene, HDPE, LDPE, LLDPE, PP, functional resin, EG, SM, PIA, PET, etc. Lotte Chemical’s products are being distributed to 152 countries around the world. With the acquisition of Pakistan’s PTA in 2009, Artenius in the UK in 2010 and Titan Chemical Corp., Lotte Chemical is now able to efficiently supply excellent products to an increasing number of countries. The company is further accelerating its efforts to strengthen its global competitiveness by establishing overseas branches in Hong Kong, Russia, and USA, along with the sales corporation in China for active sales activities both in domestic and abroad.
MRC