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KOREA

Songwon signs deal with Sibur to supply additives used to produce polymers
Songwon Industrial (Ulsan, South Korea) and its distributor United Trading System (UTS; Saint Petersburg, Russia) have signed a long-term cooperation agreement to supply Sibur (Moscow) with additives used in polymer production and processing at Sibur’s...

OCI to sell stake in water treatment chemicals producer OCI-SNF
OCI (Seoul) said today that it is to sell its entire stake in the OCI-SNF (Seoul) joint venture for 95.7 billion South Korean won ($89.9 million). OCI-SNF produces and markets water treatment and paper-making chemicals containing organic polymer flocculants...

LG Chem's third-quarter earnings tumble
LG Chem (Seoul) today reported a major drop in third-quarter earnings. Net profit plunged 34.2%, to 231.9 billion South Korean won ($218.8 million), the company says in a filing to the stock exchange. Operating income declined 30.8%, to won357.5 billion...

Mitsubishi Chemical to restructure PTA business
Mitsubishi Chemical plans to restructure its money-losing purified terephthalic acid (PTA) business, according to Yoshimitsu Kobayashi, president and CEO of Mitsubishi Chemical Holdings Corp. Kobayashi was speaking to CW on the sidelines of the recent Cefic...

Schulman and Initz form alliance for PPS compounds
A. Schulman says that it has signed an agreement and a strategic partnership with polymer producer Initz (Ulsan, South Korea) to compound and market Initz's Ecotran polyphenylene sulfide (PPS) compounds. Schulman will produce, sell, and distribute the Ecotran...

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