This photo taken on Aug. 27, 2020, shows employees entering LG Group’s headquarters building in Yeouido, Seoul. (Yonhap)
SEOUL, Sept. 14 (Korea Bizwire) — South Korea’s LG Chem Inc. said Tuesday it will collaborate with the American agricultural processor Archer Daniels Midland Co. (ADM) to build a bio-based plastic plant in the United States.
LG Chem and ADM have agreed to establish a joint venture by early next year to build a manufacturing plant for poly lactic acid (PLA), which is mostly made from renewable resources, such as corn.
PLA is biodegradable and widely used in containers and packaging for food and consumer goods.
The two companies aim to build the PLA factory with an annual capacity of 75,000 tons by 2025 but haven’t confirmed the location for the factory, LG Chem said.
The Korean firm said it will expand partnerships with AMD in the development of other bio materials to tap deeper into the growing bioplastic market.
(Yonhap)
If the author of this PR had a clue that would know they were talking about ADM and not AMD.