Consortium To Buy Hyundai PetrochemConsortium To Buy Hyundai Petrochem

Aconsortium led by LG Chem and Honam Petrochemical, both in Seoul, Korea, has agreed to acquire Hyundai Petrochemical, also in Seoul, from its creditors for 1.76 trillion won ($1.5 billion). Hyundai is a leading Korean producer of polyolefins, with 655,000 tonnes/yr of polyethylene capacity and 500,000 tonnes/yr of polypropylene capacity.