Seoul – Versalis, a global leading producer in the elastomers industry, and Lotte Chemical, a major petrochemical company in South Korea, announced today to have extended their cooperation in the elastomers business under a technology license agreement regarding, in particular, the Styrene-Isoprene-Styrene and Styrene-Butadiene-Styrene (SIS/SBS) product lines to target the specialty hot-melt adhesives market and additional market segments such as technical and sports articles, bitumen and plastics modifiers. The SIS/SBS license agreement marks the consolidation of a partnership started off in 2012 when Versalis and LOTTE Chemical launched the development of elastomers productions with Versalis proprietary technologies in Yeosu, South Korea, and which led to the establishment in October 2013 of LOTTE Versalis Elastomers, their 50:50 joint venture. The joint venture will use Versalis SIS/SBS proprietary technology for a 50 kt/y plant to be constructed at LOTTE Chemical Yeosu site, South Korea. (9colonne)
