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LG Chem Posts Record Profit in Second Quarter; Plans to Build More Battery Plants

6:29 AM MDT | July 20, 2010 | Natasha Alperowicz

LG Chem (Seoul) reported a 36% increase in net income in the second quarter of this year to won645.7 billion ($532.6 million). Sales, including its overseas affiliates, were 31% higher at won5.03 trillion as Chinese demand for LG Chem's products increased. Kim Bahn Suk, CEO says annual sales may more than double to won30 trillion. Last year LG Chem posted revenues of won13.7 trillion. Demand in the second quarter for LG Chem products increased as the global economy recovered. The company raised the capacity of its Yeosu ethylene plant by 100,000 m.t./year to 1...

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