Technology Export to Russia

Aekyung Petrochemical Co. President Lee Jong-ki (second from left) poses for a photo with SIBUR Group Konstantin Lugov (third from left) in the SIBUR headquarters in Moscow, Russia, on Apr. 5.
Aekyung Petrochemical Co. President Lee Jong-ki (second from left) poses for a photo with SIBUR Group Konstantin Lugov (third from left) in the SIBUR headquarters in Moscow, Russia, on Apr. 5.

 

Aekyung Petrochemical Co., a petrochemical arm of Aekyung Group, is exporting its new eco-friendly plasticizer manufacturing technology to Russia’s largest energy company at US$10 million (11.6 billion won).

The company announced on Apr. 6 that it held the export contract signing ceremony at the SIBUR headquarters in Moscow, Russia, on Apr. 5 (local time), attended by executives from the two companies, including President Lee Jong-ki and Konstantin Lugov, president of SIBUR Group and general manager of the Perm plant.

By applying the sequential processing system for the first time in the world, Aekyung Petrochemical’s environmentally friendly plasticizer manufacturing technology, which was independently developed by the company in 2008, is a new technology that addresses mixing problems with phthalate plasticizer, which is against environmental regulations, and improves the product quality further with the eco-friendly production method. Also, it uses steam, which is generated in the manufacturing process, as the energy source, reducing production costs.

The global environmentally friendly plasticizer market amounts to approximately 1 million tons and Aekyung Petrochemical produces and sells 120,000 tons out of it.

Founded in 1970, Aekyung Petrochemical manufactures various industrial intermediate products such as phthalic anhydride, plasticizer, polyol and bio-diesel, posting 750 billion won (US$646.55 million) in sales last year. SIBUR is Russia’s leading energy, petrochemical and plastic producer which currently has 25,000 employees in 70 countries across the world and recorded US$9.4 billion (10.9 trillion won) of sales in 2014.

 

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