LG Chem

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LG Chem
Type Public (traded on the Korea Stock Exchange)
Traded as KRX: 051910, KRX: 051915
Industry Chemicals
Founded 1947
Headquarters Seoul, South Korea
Products Raw materials
Revenue Increase US$ 20.4 billion (2012)[1]
Net income Increase US$ 1.9 billion (2010)[1]
Employees 8,200
Parent LG Group
Website lgchem.com

LG Chem Ltd. (Korean: LG화학), often referred to as LG Chemical is the largest Korean chemical company[1] and is headquartered in Seoul, South Korea. According to ICIS report, it is 15th biggest chemical company in the world in 2011.[2]

It has eight domestic factories and network of 29 business locations in 15 countries. This network includes a holding company in China, 14 overseas manufacturing subsidiaries, five marketing subsidiaries, seven representative offices, and two R&D centers.

Operations[edit]

LG Chem is a manufacturer, supplier, and exporter of petrochemical goods, IT&E Materials and Energy Solutions.

It first established as Lucky Chemical Industrial Corporation, which manufactured cosmetics goods. After 60 years of operations, it finally reached to current status. Now it is B2B company.

The Company operates three main divisions: Petrochemical, Energy solutions, and Information and Electronic Materials.

Petrochemical[edit]

LG Chem is a supplier of petrochemicals ranging from basic distillates to specialty polymers. For example, it can produce 1.2 million tons of Acrylonitrile-butadiene-styrene (ABS) every year.

Chemical and Polymers[edit]

Raw materials and liquids including polyvinyl chloride, plasticizers, specialty additives, alcohols, polyolefins, acrylic acids, rubbers, styrenics, performance polymers, engineering plastics, elastomers, conductive resins, and other chemicals.

Information and Electronic Materials[edit]

Display and optical films, printed circuit materials, and toner.

Optical Materials[edit]

LCD polarizers are multi-layer sheets of film applied to the top and bottom surfaces of TFT-LCD panels to transmit the light from the backlight unit through the panel.

3D FPR Film[edit]

It produces 3D FPR Film, which enables 3rd Dimension.FPR refers to Film-type patterned retarder

Energy Solutions[edit]

LG Chem completed development and began mass production of Korea’s first lithium-ion batteries back in 1999. At the end of 2011, LG chem is the world’s third-largest maker with an annual production capacity of 1,000 million cells. It is also a supplier of automotive battery for electric Vehicles.

Compact Power, Inc.[edit]

Compact Power, Inc. (CPI) is a wholly owned subsidiary of LG Chem based in Troy, Michigan that assembles lithium-ion polymer battery systems for electric and hybrid vehicles using cells manufactured in Korea by parent company LG Chem. In 2010, they began building a battery plant to manufacture advanced battery cells for electric vehicles in Holland, Michigan. The US$303 million Holland plant received 50% of its funding from U.S. Department of Energy matching stimulus funds and is planned to open by the middle of 2012.[3] The plant is expected to produce enough cells per year to build between 50,000 and 200,000 battery packs for electric cars and hybrids such as the Volt, the Ford Focus Electric, and upcoming plug-in electric vehicles from other carmakers.[4]

Chevy Volt[edit]

Opel Ampera

CPI announced in a press release dated June 5, 2007 that it had been chosen by General Motors Corp. to develop a lithium-ion polymer battery system for the GM E-Flex platform propulsion system. The E-Flex electric vehicle architecture underpins the Chevrolet Volt Extended Range Electric Vehicle that GM began producing in 2010.[5] GM had also tested batteries from a partnership of Continental AG and A123 Systems.[6] In October 2008, GM announced it had chosen CPI to provide the battery systems for the first production version of the Volt, which was rolled out in December 2010.[7][8][9]

As of 2011, the Volt's battery cells are produced by LG Chem in South Korea and subsequently shipped to the US, where the battery packs are assembled at a purpose-built facility in Brownstown Township, Michigan owned and operated by GM.[10]

Ford Focus Electric[edit]

CPI will also supply battery packs for the Ford Focus Electric that will initially use cells manufactured in Korea by parent LG Chem and then later will switch to cells produced in CPI's Holland, Michigan battery plant.[11]

References[edit]

  1. ^ a b c http://www.insideview.com/directory/lg-chem-ltd
  2. ^ http://www.icis.com/assets/getasset.aspx?ItemID=792559
  3. ^ "LG Chem to establish new electrolyte production plant in Michigan". Green Car Congress. 2010-11-07. Retrieved 2011-05-19. 
  4. ^ "LG Chem Wins GM Supplier of the Year Award". Electric Cars Report. 2011-03-17. Retrieved 2011-05-19. 
  5. ^ Compact Power Inc press release (2008-06-05). "Compact Power, Inc. Wins Lithium-Ion Battery Development Program For General Motors Hybrid Electric Vehicles". Retrieved 2008-06-08. 
  6. ^ Voelcker, John (August 2008). "Battery Czar". IEEE Spectrum. pp. 32–37. 
  7. ^ Kim, Soyoung (2008-10-22). "LG Chem to supply GM Volt batteries -- sources". Reuters. Retrieved 2009-08-11. 
  8. ^ "BREAKING: LG Chem and Compact Power Inc. to Supply Volt Battery Packs". GM-Volt.com. 2008-10-22. Retrieved 2009-08-11. 
  9. ^ Johnson, Drew (2008-10-24). "GM inks Chevrolet Volt battery contract". Leftlane. Retrieved 2009-08-11. 
  10. ^ "GM Chooses LG Chem to Supply Chevy Volt’s Lithium-ion Batteries and Will Build the Packs Themselves". GM-Volt.com. January 12, 2009. 
  11. ^ "Ford Selects Compact Power as Lithium-Ion Battery Pack Supplier for Ford Focus Electric on Sale in 2011" (Press release). Ford Motor Company. 2010-07-13. Retrieved February 2, 2012. 

External links[edit]