ADM & LG Chem Launch Joint Ventures
- August 15, 2022
- ADM Investor Services
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LG Chem and ADM Launch Joint Ventures, Announce Intended Location for U.S. Production of Lactic Acid and Polylactic Acid Production
- Two joint ventures intend to produce 150,000 tons of lactic acid and 75,000 tons of polylactic acid annually to meet growing demand for plant-based solutions, including eco-friendly bioplastics
- Intended location for new production facilities will be Decatur, Illinois, U.S., with final investment decision to be made in 2023
SEOUL, South Korea & CHICAGO–(BUSINESS WIRE)– LG Chem (KRX: 051910), a leading global diversified chemical company, and ADM (NYSE: ADM), a global leader in nutrition and biosolutions, today held a signing ceremony launching two joint ventures for U.S. production of lactic acid and polylactic acid to meet growing demand for a wide variety of plant-based products, including bioplastics. Pending final investment decisions, the joint ventures have chosen Decatur, Illinois, U.S., as the location of their intended production facilities.
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