SEOUL, Oct. 31 (Korea Bizwire) — LG Chem Ltd. said Monday its third-quarter operating profit grew 23.9 percent from a year earlier on the back of strong battery materials demand that helped offset lackluster performance in the petrochemicals segment. Operating income came to 901.2 billion won (US$638.1 million) in the July-September period, compared with 727.2 [...]
SEOUL, Oct. 18 (Korea Bizwire) — LG Chem Ltd., a major South Korean chemicals firm, said Tuesday it plans to take over AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, for US$566 million. In a regulatory filing, LG Chem said it will invest the amount in its U.S. affiliate, LG Chem [...]
SEOUL, Oct. 18 (Korea Bizwire) – LG Chem Ltd. and Lotte Chemical Corp. said Tuesday they plan to showcase their latest lineups of eco-friendly plastics and other advanced materials at a plastics trade show in Germany this week, as part of efforts to tap deeper into the European market. LG Chem, South Korea’s leading chemicals [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korean chemical company LG Chem Ltd. said Tuesday it is expanding its carbon nanotube factory here as it seeks to bolster its edge in the lucrative electric vehicle battery materials sector. The new carbon nanotube factory will be constructed in its Daesan complex, South Chungcheong Province, about 75 [...]
SEOUL, Aug. 16 (Korea Bizwire) — LG Chem Ltd. said Tuesday it will build two production facilities in the U.S. state of Illinois with a U.S. food processing company to produce a biodegradable plastic widely used in food packaging. Under the two joint ventures with Archer Daniels Midland Co. (ADM), an agricultural food processor and [...]
SEOUL, July 27 (Korea Bizwire) – LG Chem Ltd. said Wednesday its second-quarter net income shrank 54.1 percent from a year earlier, dented by higher oil prices, global inflation and China’s COVID-19 lockdowns. Net income came to 718.3 billion won (US$547 million) in the April-June period, compared with 1.56 trillion won the previous year, the [...]
SEOUL, July 27 (Korea Bizwire) — LG Chem Ltd. said Wednesday it has clinched a long-term supply agreement with General Motors Co. to provide the U.S. carmaker with key materials for electric vehicle (EV) battery cells. LG Chem, the country’s leading chemical firm, will supply more than 950,000 tons of cathode materials under the eight-year [...]
SEOUL, July 22 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical maker, is making forays into the sustainable materials market through the export of its first bio-based phenol and acetone. The company announced on Thursday that it will export its first phenol and acetone products made of biomaterials such as waste vegetable oil. [...]
SEOUL, July 19 (Korea Bizwire) — U.S. Treasury Secretary Janet Yellen on Tuesday called for building resilient supply chains with allies to ease inflation and prevent countries like China from exercising leverage over the supply of key materials. Yellen made the call in a speech after touring an LG Chem battery facility in western Seoul, [...]
SEOUL, July 8 (Korea Bizwire) — South Korea’s leading chemicals maker LG Chem Ltd. said Friday it has issued global green bonds worth US$300 million to help bolster the competitiveness of its battery materials business and finance more investments in eco-friendly businesses. The parent company of major battery maker LG Energy Solution Ltd. said the [...]