Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  LG Chem, Ltd.    A051910   KR7051910008

LG CHEM, LTD.

(A051910)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

LG Chem : Indian committee recommends moving South Korea-owned plant hit by gas leak

share with twitter share with LinkedIn share with facebook
07/07/2020 | 01:43am EDT
FILE PHOTO: Gas leak at LG Polymers plant in Visakhapatnam, India

By Sudarshan Varadhan and Jane Chung

An investigation into a deadly gas leak at a South Korean-owned chemical plant in southern India that killed 12 people in May recommended the factory be moved away from inhabited areas, according to its full report released on Tuesday.

The probe at the plant run by LG Polymers, owned by South Korea's LG Chem Ltd, found the company was negligent and warning systems were not working, the local state government said on Monday.

The investigation was set up after toxic styrene gas leaked from the chemical plant near the Indian city of Visakhapatnam in the early hours of May 7, choking many people who were sleeping and killing 12.

LG Chem said on Tuesday it had undertaken a host of safety measures.

"We have fully cooperated for the investigation, and we will sincerely respond to the probe result and take corresponding measures," LG Chem said in a statement.

In its report, the committee listed 21 major reasons for the accident including improper storage design, haphazard maintenance of the old storage tank and disregard for red flags. It blamed the company's management for 20 of those causes.

The temperature inside the oldest of the three storage tanks holding styrene monomer, a chemical used in making polystyrene products, rose to more than six times the permitted level due to polymerization, a chemical reaction that generates heat.

"The company management had ignored the rise in polymer content from 4th April 2020 and then the sharp rise on 25th April 2020/28th April 2020," the committee said.

"The management considers polymer content as a quality measure for styrene rather than a safety measure," it said.

(Reporting by Sudarshan Varadhan in Chennai and Jane Chung in Seoul; editing by Richard Pullin)

Stocks mentioned in the article
ChangeLast1st jan.
LG CHEM, LTD. -5.02% 700000 End-of-day quote.120.47%
LG CORP. -4.44% 86000 End-of-day quote.16.53%
share with twitter share with LinkedIn share with facebook
Toute l'actualité sur LG CHEM, LTD.
08/13European battery makers power up for a green recovery
RE
08/12EUROPA-STATE AID : Commission opens in-depth investigation into public support f..
AQ
08/12LG CHEM : Brussels launches probe into Poland's €95mn support for Korean chemica..
AQ
08/11LG CHEM : EU to investigate $112 million Polish aid for LG Chem's electric car b..
RE
08/05Daimler deepens battery alliance with CATL to include R&D
RE
08/03S.Korean stocks end flat as stalled U.S. stimulus offsets data optimism
RE
07/31Tesla battery supplier LG Chem shares jump 10% on upbeat outlook
RE
07/30Tesla battery supplier LG Chem shares jump 10% on upbeat outlook
RE
07/30LG CHEM : 2Q Net Profit Jumped Fivefold on Year
DJ
07/30EXCLUSIVE : Panasonic aims to boost energy density in Tesla batteries by 20% - e..
RE
More news
Financials
Sales 2020 31 298 B 26,4 B 26,4 B
Net income 2020 1 174 B 0,99 B 0,99 B
Net Debt 2020 8 749 B 7,38 B 7,38 B
P/E ratio 2020 44,1x
Yield 2020 0,48%
Capitalization 51 104 B 43 057 M 43 081 M
EV / Sales 2020 1 633x
EV / Sales 2021 1 334x
Nbr of Employees -
Free-Float 58,0%
Chart LG CHEM, LTD.
Duration : Period :
LG Chem, Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LG CHEM, LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Average target price 677 200,00 KRW
Last Close Price 700 000,00 KRW
Spread / Highest target 21,4%
Spread / Average Target -3,26%
Spread / Lowest Target -50,0%
EPS Revisions
Managers
NameTitle
Hak Cheol Shin Vice Chairman & Chief Executive Officer
Okdong Son President
Jin-Soo Park Vice Chairman
Dong-Seok Cha Chief Financial Officer & Director
Ki-Soo No CTO & President-Executive Board
Sector and Competitors
1st jan.Capitalization (M$)
LG CHEM, LTD.120.47%45 447
DOW INC.-18.82%32 928
FORMOSA PLASTICS CORPORATION-19.04%17 494
FORMOSA CHEMICALS & FIBRE CORPORATION-18.29%14 186
COVESTRO AG-9.77%8 090
HANGZHOU FIRST APPLIED MATERIAL CO., LTD.104.53%7 682