1 April 2015
READ MORE VERSALIS LICENSING ELASTOMERS
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DETAILS
a global leading producer in the elastomers industry, and
a major petrochemical company in South Korea,
announced today to have extended their cooperation
in the elastomers business
under a technology license agreement regarding, in particular,
the Styrene-Isoprene-Styrene and
Styrene-Butadiene-Styrene (SIS/SBS) product lines
to target the specialty hot-melt adhesives market and
additional market segments such as
technical and sports articles, bitumen and plastics modifiers
The SIS/SBS license agreement
marks the consolidation of a partnership started off in 2012
when Versalis and LOTTE Chemical launched
the development of elastomers productions
with Versalis proprietary technologies
in Yeosu, South Korea, and
which led to the establishment in
October 2013 of LOTTE Versalis Elastomers (LVE),
their 50:50 joint venture.
The joint venture will use
Versalis SIS/SBS proprietary technology
for a 50 kt/y plant to be constructed at
LOTTE Chemical Yeosu site, South Korea.
The cooperation has a strategic value
enabling both partners’ aim
to seize the opportunity to strengthen and
enlarge the scope of their alliance onto premium market segments
with a rapidly escalating demand in the Asian region.
In addition to the right to use proprietary SIS/SBS process and
engineering services, already completed,
Versalis will provide a comprehensive know-how,
acknowledged commercial capabilities and technical assistance.
LOTTE Chemical will handle the vertical integration
with its new isoprene unit, to be completed
within the second half of 2016, and
will also provide the Yeosu plant operations, maintenance services
and existing infrastructures, including logistics.
The SIS-SBS plant start-up is scheduled for beginning 2018
and will be connected to the new isoprene plant
and the butadiene unit, which is already up and running
at Yeosu, for feedstock.
This new capacity will add up to
the Styrene-Butadiene and Ethylene-Propylene-derivatives unit
under the 2012 master agreement
thus contributing to total about 250 kt/y of elastomers.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
