JV with Samsung gives Atofina foothold in Asia

Omnexus - Dec 2, 2002

PARIS, Dec. 2 -- Atofina will establish a petrochemicals joint venture with South Korea's Samsung, giving the company greater access to the growing Asian chemicals and plastics markets. Under the agreement, the assets of Samsung General Chemicals will be transferred to the 50/50 venture. The alliance will produce and market a range of base petrochemicals and polyolefins from Samsung General Chemicals' integrated site in Daesan, South Korea. The petrochemicals complex will also be transferred to the joint venture. The facility, located on the west coast of South Korea, 150 kilometers southwest of Seoul, manufactures 650,000 metric tons/yr of ethylene, 670,000 metric tons/yr of styrene, 500,000 metric tons/yr of paraxylene, and 670,000...

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