- Chemical Unit of the LOTTE Group, Asias leading enterprise, take part in K 2019 for the first time
- Part of efforts to expand presence in the European market, while featuring recyclable economy and unique eco-friendly solutions
LOTTE Chemical, LOTTE Advanced Materials and LOTTE Fine Chemical -- the three affiliates of Asias leading enterprise LOTTE Group -- are set to jointly take part in [K 2019], a plastics exhibition slated for October 16-23 in Düsseldorf, Germany.
For the upcoming trade show and the joint exhibition hall, the LOTTE Groups Chemical Unit is scheduled to present its focus on future values as a global chemical firm, which is firmly built upon the synergy effect generated by its affiliates, and unveil an array of differentiated material solutions tailored for the European market where an eco-friendly paradigm called circular economy is going mainstream.
In particular, the joint exhibition hall will introduce an eco-friendly materials lineup optimized for paint-free and simplified production processes. Recycled solutions such as PC and PET -- part of a recycling system designed to turn plastic waste into valuable resources in a way that creates new value -- will be on display to offer visitors a glimpse into how LOTTE will contribute to enabling sustainable human life through innovative chemical solutions.
LOTTE, a global enterprise that helps create a happy life
As a global group leading Asia, the LOTTE Group started as a food company in 1967. In the following decades, the LOTTE Group has built a wide range of business portfolio, including chemical, construction, food, distribution and finance. The group is also actively engaged in multiple industries in more than 30 countries including Asia and Europe. The LOTTE Group will continue to expand its presence on the global market by pushing for localization strategy.
LOTTE Chemical Unit armed with global competitiveness as a global chemical business
The LOTTE Groups Chemical Unit has contributed to advancing South Koreas key infrastructure industry by implementing continued R&D, quality innovation and the expansion of production capacity since the 1970s. LOTTE Chemical has built large-scale production facilities both at home and abroad, producing a variety of products ranging from petrochemical raw materials to specialty products. In May this year, the company set up a local plant with a production capacity of 1 million tons of ethylene in Louisiana, the United States. LOTTE Chemical is now rapidly growing into a global chemical frontrunner by utilizing the synergy effect from its affiliates LOTTE Advanced Materials and LOTTE Fine Chemical.
The LOTTE Groups Chemical Unit is now making efforts to solidify and stabilize its business portfolio by increasing the proportion of high value-added specialty products and diversifying raw materials including ethane crackers. The Units affiliates will work together to go beyond Asia to become a global chemical powerhouse offering a comprehensive set of products and solutions, aided by its global network of production hubs in Hungary, China, Mexico, Uzbekistan, Malaysia and Indonesia.
[Major companies of LOTTE Chemical Unit]
- LOTTE Chemical : Ethylene 4.5MT/Year (Global No.7), PIA 460KT/Year (Global No.1), PC 450KT/Year (Global No.3)
- LOTTE Advanced Materials* : ABS 670KT/Year (Global No.5)
- LOTTE Fine Chemical : Methyl Cellulose 70KT/Year (Global No.4)
(*LOTTE Advanced Materials sets to be merged with LOTTE Chemical on January 2, 2020)
LOTTE's systematic response to environmental issues
The LOTTE Group, a global enterprise with a diverse business portfolio ranging from chemical and construction to food and distribution, is actively taking steps to build up the circular economy system in which its affiliates design and utilize sustainable products in a way that minimizes waste emissions. To this end, not only Chemical Unit but also all the group members are striving to recognize and respond to environmental issues.