Honam Expands and Diversifies

Honam Petrochemical (Seoul) has big ambitions to expand its operations in Korea and overseas. Honam merged with its Lotte Daesan subsidiary earlier this year, and within a few years Honam plans to absorb its KP Chemical (Seoul) affiliate. The three companies had combined sales of won7.6 trillion ($7 billion) and Ebitda of $360 million in 2008. Honam has grown rapidly through acquisition over the last six years. The company, jointly with LG Chem, bought Hyundai Petrochemical in 2003 and they divided up Hyundai’s manufacturing assets at Daesan, Korea...

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