LG Chem

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LG Chem
Type Public (traded on the Korea Stock Exchange)
Founded 1947
Headquarters Flag of South Korea Seoul, South Korea
Industry Chemicals, Industrial goods
Products Raw materials
Revenue ▲ $9.3 billion (2006)
Net income ▲ $1.34 billion (2006)
Website lgchem.com

LG Chem Ltd. (hangul:엘지화학, LG화학), often referred to as LG Chemical, is the largest Korean chemical company[1] and is headquartered in Seoul, South Korea. It has eight domestic factories and direct marketing branches established around the world including the Americas (North and South), China, Russia, Germany, Poland, Switzerland, India, Indonesia, Japan, Singapore, Taiwan, Thailand, Turkey, Vietnam, and Brazil. As of November 2, 2007, the Company merged with LG Petrochemical Co.

Contents

[edit] Business Segments

LG Chem is a manufacturer, supplier, and exporter of petrochemical goods, plastics, flooring and automobile parts. The Company operates three main divisions: Chemicals and Polymers, Industrial Materials, and Information and Electronic Materials.

[edit] Chemical and Polymers

Raw materials and liquids including but not limited to polyvinyl chloride, plasticizers, specialty additives, alcohols, polyolefins, acrylic acids, rubbers, styrenics, performance polymers, engineering plastics, elastomers, conductive resins and other chemicals.

[edit] Industrial Materials

Residential flooring, commercial flooring, wall covering, surface and decorative materials, advertising banner sheets, geomembranes, and automotive components.

[edit] Information and Electronic Materials

Lithium ion batteries, display and optical films, printed circuit materials, and toner.

[edit] Chevrolet Volt

Compact Power, Inc. (CPI), a subsidiary of LG Chem, based in Troy, Mich. announced in a press release dated June 5, 2007 that it has been chosen by General Motors Corp. to develop a lithium ion battery system for the carmaker’s E-Flex propulsion system. The E-Flex electric vehicle architecture underpins the Chevy Volt concept car that GM plans to produce in 2010.[2]

GM is also testing batteries from a partnership of Continental and A123 Systems and has not selected a supplier as of June 8th 2008. GM spokesman Robert Peterson told Wired.com "There's a chance it could be both," adding that GM's goal is to offer a battery that'll last 10 years or 150,000 miles.[3]

[edit] March 2008 fire

A fire that broke out on March 8, 2008 at LG Chem's Ochang plant severely disrupted battery supplies of several major laptop vendors, notably Asustek and Dell.[4]


[edit] See also

[edit] External links

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LG Group

[edit] References

  1. ^ How LG Chem Is Changing Its Formula
  2. ^ Compact Power Inc press release. "Compact Power, Inc. Wins Lithium-Ion Battery Development Program For General Motors Hybrid Electric Vehicles", 2008-06-05. Retrieved on 2008-06-08. 
  3. ^ Chuck Squatriglia. "Bob Lutz Drives the Volt, Calls It 'Electrifying'", 2008-06-05. Retrieved on 2008-06-08. 
  4. ^ Philipp Gollner. "Dell and HP see laptop battery shortage", 2008-03-26. Retrieved on 2008-04-21. 
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