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November 8, 2013
Versalis and Lotte form JV for elastomers
Eni S.p.A. (Rome; www.eni.com
) chemical subsidiary Versalis and Lotte Chemical (Seoul; www.english.lottechem.com
) have established a 50:50 joint venture (JV) under the name Lotte Versalis Elastomers Co., Ltd. The new joint venture will be headquartered in Yeosu, South Korea, and will manage the production of streams for premium application segments within the elastomers business, mainly the tire and automotive industries, and within styrenics modification and technical goods. All of these markets have strong growth opportunities in Asia. The industrial complex will host production facilities for an elastomers unit including Butadiene and Ethylene Propylene-derived products for a total capacity of about 200,000 metric tons per year (m.t./yr).