SEOUL, KOREA - LG Chem will set out to increase the production capacity in acrylic acid and super absorbent polymers (SAP).
The company said on December 18 in a regulatory filing that it would invest 320 billion won in its plant in Yeosu, South Jeolla Province, to expand the capacity of acrylic acid and SAP by 160,000 tons and 80,000 tons, respectively, by September 2015. Once the construction is completed, LG Chem will be able to produce 510,000 tons of acrylic acid and 360,000 tons of SAP.
Acrylic acid is a liquid chemical widely used in acrylic textiles, paints, adhesives, paper and leather coatings, and polishes. Its global output last year was 4.4 million tons but it is forecast to rise to 5.9 million tons by 2017. Superabsorbent polymers (SAP), meanwhile, are polymers that can absorb and retain extremely large amounts of a liquid relative to their own mass, whose applications include baby diapers, adult protective underwear, and sanitary napkins.
The company plans to grow the acrylic acid and SAP business to 1.7 trillion won by 2016 from the current 1.3 trillion won. Park Jin-soo, vice chairman of the company, said, "By mobilizing high-caliber R&D talents and continuing investment in this area, we hope to become a leading chemical company in the world."
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