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LG Polymers roots date back to 1961
The gas leakage from Visakhapatnam-based LG Polymers India created shock waves across Andhra Pradesh as it claimed several lives.
Hyderabad: The gas leakage from Visakhapatnam-based LG Polymers India created shock waves across Andhra Pradesh as it claimed several lives. The company's roots date to 1961 when it was set up as Hindustan Polymers. Subsequently, it was merged with McDowell and Co, part of UB Group, in 1978. Later in July 1997, it became LG Polymers India Pvt Ltd (LGPI) after South Korea-based LG Chem took over it. LG Polymers manufactures polystyrene and its co-polymers at Vizag facility.
LG Chem is a leading player in styrenics business in South Korea and is strengthening its foot print in India by expanding the current product range of PS and EPS. LGPI is one of the leading manufacturers of polystyrene and expandable polystyrene in India.
LG Polymers India has its corporate office in Mumbai and regional offices in Chennai, Gurgaon, Kolkata, Pune and Vijayawada in addition to the manufacturing facility at Visakhapatnam. Sunkey Jeong is president of LG Polymers India and Hak Cheol Shin is vice-president and CEO of LG Chem.
According to a statement from LG Polymers, there was about 1,800 tonnes of styrene in the storage tank. Due to stagnation and changes in temperature, it could have resulted in auto polymerization which could have caused vapourisation.
