LG Chem Ltd : LG Chem and Versalis to enter Europe with metallocene-based LLDPE

Seoul, Korea - October 24, 2013- LG Chem, a leading Korean petrochemicals producer, and Versalis, the Eni 's chemical company with a significant market share in Europe, have signed a Memorandum of Understanding (MoU) to establish a strategic partnership. The aim of the partnership is to enter the European market with premium synthetic resins produced on the basis of LG Chem's proprietary polymerization technology known as metallocene catalyst.

LG Chem CEO Jinsoo Park and Versalis CEO Daniele Ferrari met at Versalis' headquarters in Milan, to sign the MoU at a ceremony hosted to mark the event.

The major outcome of the agreement is a contract for LG Chem to supply Versalis with metallocene Linear Low Density Polyethylene (mLLDPE). The top-quality grade has made LG Chem the right partner to Versalis with strong commercial and proprietary technical background, to face new challenges beyond Asia and into the European market. The market development agreement between the two major companies shall pave the way for further development projects.

The metallocene-based LLDPE is often used for agricultural and industrial film. The advanced technology of LG Chem increases the ultimate tensile strength of the product while making it easier to extrude. Additional applications of the premium specialty include pallet stretch wrap and food packaging film.

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About LG Chem

LG Chem, Ltd. is a globally diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials, and Energy Solution. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and rechargeable batteries. For more information, please visit the LG Chem website at www.lgchem.com

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Jeonghan Yoo, Junil Son

LG Chem, Public Relations

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About Versalis

Versalis (Eni) is interfacing with markets through globally-oriented strategies and a market-driven product portfolio. It leads the industry in manufacturing intermediates, polyethylene, styrenics and elastomers and is entering the green chemicals and polymers industry partnering with worldwide biotech companies. Versalis prides itself on its wide range of proprietary technologies, wide-reaching distribution network and after-sales assistance.

As part of its new strategy, the company aims to gain a leadership position in fast-growing markets by leveraging its technological and industrial expertise. In Asia, Versalis has entered into partnership with global petrochemical producers for development of its elastomer division.

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