Lotte Chemical to absorb engineering plastics business

摘要

Lotte Chemical(Seoul,South Korea)says it has decided to absorb its subsidiary Lotte Advanced Materials,as part of efforts to streamline the company's business.The merger is due to be completed in January 2020,subject to approval at a shareholders’meeting in November.It will make Lotte Chemical the third-biggest producer of polycarbonate(PC),the company says.Lotte Advanced Materials is a producer of engineering plastics including PC,acryloni-trile-butadiene-styrene(ABS),and polybutyl-ene terephthalate.The company's main production site is at Yeosu,South Korea.It also has two plants in China and production in Hungary,Mexico,and Vietnam.Lotte Advanced Materials’total PC capacity is 240,000 metric tons/year.