Posted in | News | Business | Petrochemicals

TotalFinaElf and Samsung to Set Up Petrochem Joint Venture

Dec 3 2002

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Atofina, a subsidiary of TotalFinaElf have signed a memorandum of understanding with Samsung General Chemicals which will see them set up a 50/50 joint venture in South Korea.

The joint venture will manufacture and market a range of petrochemicals and polyolefins from the Samsung General Chemicals site at Daesan in South Korea. The facility has a production capacity of 650,000 tons of ethylene, 670,000 tons of styrene, 500,000 tons of paraxylene and 670,000 tons of polyolefins per year.

The assets of this manufacturing facility will be transferred to the joint venture.

Through this investment, Atofina will be able to acquire a significant petrochemicals manufacturing facility in Asia and aggressively push into the Asian market.

For more information on styrenes, click here.

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