Membranes attract LG Chem investment focus
Korean chemical giant, LG Chem, is focusing its investment on its water treatment operation built on its acquisition of NanoH2O as one of three business strands chosen as "more promising" and showing "growth potential".The company announced its move following its earlier decision to cancel planned investment in petrochemical and polysilicon projects.
"LG Chem intends to remove business uncertainty and focus on investing in new businesses that are more promising and have growth potential. Through new businesses, such as energy storage system (ESS) and electric vehicle (EV), and water treatment filter business, the company is planning to turn crisis into opportunity this year," said LG Chem.
LG Chem in August last year, signed an exclusive deal to supply reverse osmosis (RO) filters for eight seawater desalination projects in five nations worldwide.