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LG MMA, South Korea’s biggest methyl methacrylate manufacturing company, said Wednesday it will invest some 130 billion won ($116 million) to expand its facility to meet growing demand for MMA.
MMA is a chemical compound used for manufacturing acrylic glass, which is needed in the production of electronics such as mobile phone screens, LCD screens and monitors among others.
LG MMA expects its annual produce to increase from the current 180,000 tons to 260,000 tons, when the expansion work is completed in 2019, the company said Wednesday.
With the 80,000 tons of additional annual produce, LG MMA expects to be among the world’s top five MMA firms, in terms of sales, it said.
The company also forecasts that its annual sales to increase by 160 billion won, by covering the supply shortage in the nation, as well as increasing global demand.
Domestic demand for MMA is currently at 490,000 tons, yet the nation’s current supply capacity is at 440,000 tons.
The global demand for methyl methacrylate is projected to increase from the 310 tons in 2015 to 360 tons by 2020, according to the company.
The construction is expected to begin in the first quarter of 2018, the company said.
By Shim Woo-hyun (ws@heraldcorp.com)
