finanzen.net
16.05.2019 21:32
Bewerten
(0)

Lotte Chemical & Westlake Chemical Host Grand Opening Ceremony for New Louisiana Chemical Complex

DRUCKEN

LAKE CHARLES, La., May 16, 2019 /PRNewswire/ -- Lotte Chemical USA and Westlake Chemical Corporation hosted an official opening ceremony on May 9, 2019,  for their joint-venture Ethylene and the Lotte Chemical world-scale Ethylene Glycol (EG) Production Facility near Lake Charles, Louisiana.

Aerial view of the new production facility.

The complex is a $3.1 billion project, which broke ground in June 2016, and will include an ethane-cracker plant, a joint venture between Lotte Chemical and Westlake Chemical, and the ethylene glycol plant. The combined site encompasses approximately 250 acres.

"Among Korean petrochemical companies, Lotte Chemical is the first to locate a project in the United States; as such, this project represents a significant investment by Lotte Chemical," said Jinkoo Hwang, Lotte Chemical USA president and chief executive officer. "Today also marks the opening of our new corporate headquarters in Lake Charles, and we are very excited to be part of the industrial growth in the region."

"Westlake Chemical Corporation is pleased to be a joint-venture partner with Lotte Chemical, a leading global petrochemical company, in LACC, a state-of-the-art ethylene facility.  This is the seventh Westlake operation in Louisiana," said Albert Chao, Westlake Chemical Corporation president and chief executive officer. "This new ethylene facility marks another phase of Westlake's continued investment in the state, where the company is proud to be a long-established petrochemical producer and member of the community. Ethylene from this new plant will further enhance the value of Westlake's integration strategy."

The new chemical facilities are expected to have a lasting positive economic impact on Southwest Louisiana, adding a combined total of 250 new direct jobs with very attractive salaries, plus benefits.  According to the Louisiana Economic Development office, as a result of this project, approximately 2,000 indirect jobs have also been created in the community.   

"Southwest Louisiana continues to lead the state – and our nation – in capital investment and job growth, and this new complex by Lotte Chemical and Westlake Chemical represents a major contribution to our expanding economy," said Louisiana Governor John Bel Edwards. "The combined capital investment of more than $3 billion by these companies demonstrates that Louisiana can successfully compete on the global stage when it comes to attracting world-scale business investment. With 250 new permanent jobs here at the ethane cracker, MEG plant and Lotte USA headquarters, we're providing amazing career opportunities for a new generation of industrial workers and their families."

Louisiana faced tough competition from other states for the projects. The final site was chosen due to the advantage of existing infrastructure, including access to competitive feedstock resources, pipeline, rail and water shipping access and a talented and trained workforce.

Lotte Chemical's EG plant began production of monoethylene glycol, commonly called MEG, in January of this year. MEG is an important ingredient in the making of paper, textile fibers, latex paints, asphalt, resins, antifreeze, coolants and adhesives. With an annual capacity of 700,000 metric tons, the new facility is now the largest MEG plant in the world. 

About Lotte Chemical
Lotte Chemical is a member of the Lotte Group in Korea, which has been listed on the Korean Stock Exchange since 1991. Lotte Chemical is a leading manufacturer of petrochemical products, such as ethylene, propylene, butadiene, polyethylene, polypropylene, ethylene oxide/glycol, compound resin, polyethylene terephthalate, polycarbonate, methyl methacrylate, ethylene oxide derivatives, benzene, toluene, mixed xylene, purified terephthalic acid and purified isophthalic acid, among others. Lotte Chemical, headquartered in Seoul, has manufacturing facilities located throughout South Korea, China, Malaysia, Indonesia, Pakistan, the U.K. and the U.S. For more information, visit www.lottechem.com.   

About Westlake Chemical
Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston. The company's range of products includes ethylene, polyethylene, styrene, propylene, chlor-alkali and derivative products, PVC suspension and specialty resins, PVC compounds, and PVC building products including siding, pipe, fittings and specialty components, windows, fence, deck and film. For more information, visit www.westlake.com.

For more information, contact: 
Kristy Armand at Healthy Image

(337) 312-0972 or
kristy@ehealthyimage.com

Government and company representative complete the grand opening celebration ceremony.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/lotte-chemical--westlake-chemical-host-grand-opening-ceremony-for-new-louisiana-chemical-complex-300852035.html

SOURCE Lotte Chemical

Effektiver Vermögensausbau

Mit 12 Wertpapieren langfristig und erfolgreich Vermögen aufzubauen? Wie Sie so erfolgreich investieren, erklärt Börsenprofi Tobias Kramer heute Abend live im Webinar.
Jetzt kostenlos anmelden!
Anzeige
Anzeige
Börse Stuttgart Anlegerclub

Die richtige Strategie für die Börsenkrise

Stecken Sie nicht den Sand in den Kopf, sondern kaufen Sie die richtigen Aktien. Erfahren Sie im aktuellen Anlegermagazin mehr über attraktive Qualitätsaktien und zyklische Aktien
Kostenfrei registrieren und lesen!

Heute im Fokus

DAX klar im Minus -- Bundesbank beurteilt Konjunkturentwicklung skeptisch -- thyssenkrupp-Aufsichtsrat berät neues Konzern-Konzept -- Wirecard, Deutsche Bank, Lufthansa, Infineon im Fokus

QIAGEN-Aktie im Aufwind: US-Zulassung für Molekulartestsystem. Ryanair verdient deutlich weniger. Google schränkt Zusammenarbeit mit Huawei ein. Grand City Properties bleibt auf Wachstumskurs. T-Mobile US und Sprint: Zu weiteren Zugeständnissen bereit.

Die 5 beliebtesten Top-Rankings

Diese Aktien hat Warren Buffett im Depot
Die Änderungen unter den Top-Positionen
Die erfolgreichsten Kinofilme der letzten 25 Jahre
Welche Titel knackten die Milliardenmarke an den Kinokassen?
In diesen Berufen bekommt man das höchste Gehalt
Mit welchem Beruf kommt man am ehesten an die Spitze?
Städte für Millionäre
Hier fühlen sich die Vermögenden am wohlsten
In diesen Ländern ist Netflix am billigsten
Wo zahlen Abonnenten am wenigsten?
mehr Top Rankings

Umfrage

Bundesjustizministerin Barley (SPD) hat vorgeschlagen, die Mietpreisbremse zu verschärfen. Was halten Sie von dieser Idee?

Online Brokerage über finanzen.net

finanzen.net Brokerage
Handeln Sie für nur 5 Euro Orderprovision* pro Trade aus der Informationswelt von finanzen.net!

ETF-Sparplan

Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.
Zur klassischen Ansicht wechseln
Kontakt - Impressum - Werben - Pressemehr anzeigen
Top News
Beliebte Suchen
DAX 30
Öl
Euro US-Dollar
Bitcoin
Goldpreis
Meistgesucht
Wirecard AG747206
Huawei TechnologiesHWEI11
Deutsche Bank AG514000
Daimler AG710000
TeslaA1CX3T
BayerBAY001
Amazon906866
Apple Inc.865985
CommerzbankCBK100
NEL ASAA0B733
BASFBASF11
Infineon AG623100
Allianz840400
BMW AG519000
Volkswagen (VW) AG Vz.766403