Lotte Chemical Titan

Lotte Chemical Titan Holding Sdn Bhd engages in the ownership and operation of polypropylene plants, polyethylene plants, ethylene crackers, and aromatic plants. It offers high-density polyethylene (HDPE), Low-density polyethylene (LDPE), and Linear low-density polyethylene (LLDPE) for various kinds of applications, room household goods to automotives products. The company also manufactures low-density polyethylene for injection molding for cosmetic containers, bottle closures, and food containers, and is based in Pasir Gudang, Malaysia.

Lotte Chemical Titan Holding Bhd
FormerlyTitan Chemicals Corp Sdn Bhd
TypePrivate Limited
IndustryChemicals, manufacturing
Founded1989
Headquarters6th Floor, Bangunan Malaysian Re, No. 17, Lorong Dungun, Damansara Heights, 50490 Kuala Lumpur, Malaysia
Key people
Lee Dong-Woo, President & CEO
Productsplastics
Number of employees
1,000
ParentLotte Chemical Corporation
Websitewww.lottechem.my

History

Titan Chemicals began as a joint-venture in which Datuk Chao Ting Tsung, through The Chao Group International and Permodalan Nasional Berhad (PNB), through its wholly owned subsidiary, PNB Equity Resources Corporation (PERC), have major interest.[1]

Titan Chemicals commenced construction of its first facility in Malaysia, a RM300 million polypropylene plants, in 1989. At present, Titan Chemicals own 10 integrated process facilities in Pasir Gudang and Tanjung Langsat in the southern state of Johor which has a total nameplate production capacity of over 2.4 million tonnes annually of olefins, polyolefins and other associated products.[2]

The company was formerly known as Titan PP Polymers (M) Sdn Bhd and changed its name to Titan Petchem (M) Sdn. Bhd. in December 2004.

Titan Chemicals Corp. Sdn. Bhd. was listed on the Main Board of Bursa Malaysia as TITAN 5103 in 2005. Its stock is included in the KL Composite Index.[3]

On March 2006, Titan Chemicals acquired PT. TITAN Petrokimia Nusantara, Indonesia’s first and largest Polyethylene plant in the country. Situated in Merak, Indonesia, PT. TITAN adds 3 Polyethylene plants to Titan Chemicals' portfolio.

On November 2010, Titan Chemicals was acquired by Honam Petrochemical Corp.

Production facilities
Production Capacity[4]
Plant Original Nameplate

Capacity (KTA)

 Actual

Capacity (KTA)

 Technology Location
Cracker 1 – Olefins 345 442 Stone & Webster Pasir Gudang, Malaysia
Cracker 2 – Olefins 495 667 Stone & Webster Pasir Gudang, Malaysia
Polypropylene Plant 1 100 180 Basell Polyolefins Pasir Gudang, Malaysia
Polypropylene Plant 2 200 300 Basell Polyolefins Pasir Gudang, Malaysia
LLDPE / HDPE Swing Plant 200 220 Union Carbide Pasir Gudang, Malaysia
LDPE Plant 200 230 ExxonMobil Tanjung Langsat, Malaysia
HDPE Plant 100 115 Mitsui Tanjung Langsat, Malaysia
Aromatics Plant 170 200 Krupp Uhde Pasir Gudang, Malaysia
Butadiene Plant 100 100 BASF Pasir Gudang, Malaysia
Metathesis Plant 115 115 ABB Lummus Pasir Gudang, Malaysia
LLDPE/HDPE Swing Plant 450 450 BP Innovene Merak, Indonesia
BOPP 38 38 Tenter Merak, Indonesia
Total 2,513 3,057

Acquired by Honam Petrochemical Corp

South Korea’s Honam Petrochemical Corp has received full acceptance to take Titan Chemicals Corp private, by acquiring the remaining 27.25% shares it does not own at RM2.35 apiece. Titan shares, for which acceptance had been received by Honam after the posting date and up to 5 pm closing date on 24 December 2010, were listed as 27.25%, representing 470.89 million shares, according to Titan in a filing. On 1 November 2010, Titan received a notice of unconditional takeover offer from Honam to acquire all remaining shares (excluding treasury shares) following Honam's sale and purchase agreement in July to buy a 72.32% stake, or 1.25 billion shares, in Titan Chemicals for RM2.94 billion.[5]

References
  1. "Founding Shareholders". Archived from the original on 13 March 2012. Retrieved 24 July 2011.
  2. "Corporate Overview". Archived from the original on 29 November 2011. Retrieved 24 July 2011.
  3. "Corporate Milestone". Archived from the original on 28 March 2012. Retrieved 1 August 2011.
  4. "Production Capacity". Archived from the original on 4 February 2013. Retrieved 1 August 2011.
  5. "Honam Petrochemicals acquires balance shares in Titan Chemicals (29-12-2010)". Retrieved 24 July 2011.
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