Lotte Versalis Elastomers
Eni S.p.A. (Rome, Italy; www.eni.com) announced the launch of Lotte Versalis Elastomers’ new integrated industrial complex for the production of elastomers in Yeosu, South Korea. Lotte Versalis Elastomers is a 50:50 joint venture between Versalis (Eni) and Lotte Chemical, a major petrochemical company headquartered in South Korea. This important achievement is part of Eni’s strategy to transform its chemical business also through international development.
The joint venture, established in 2013 with the aim of targeting growth in the Asian elastomers market, uses Versalis’ technology, industrial expertise and commercial network, as well as Lotte Chemical’s site integration, which ensures the availability of feedstocks and industrial facilities.
The industrial complex has a nameplate capacity of 200,000 metric tons per year (m.t./yr) of elastomers (EPDM, Ethylene-Propylene Diene Monomer; s-SBR, solution-Styrene Butadiene; BR, Butadiene Rubber). The production streams are targeted to premium application segments, mainly the tire and automotive industries, styrenics modification and technical goods.
“The construction of the first industrial complex in Asia is an important milestone in Versalis’ international development strategy, which leverages valuable proprietary technologies. It also strengthens our leading position in the global elastomers market and other prospects for growth. We are excited to be working on this project with an established partner such as Lotte Chemical. By joining forces, both Versalis and Lotte Chemical are benefitting from important synergies.” says Versalis’ CEO, Daniele Ferrari.