# Taekwang Industrial and LG Chem form acrylonitrile joint venture TL Chemical

Taekwang Industrial and LG Chem will set up a joint venture named TL Chemical in Ulsan, South Korea, to produce acrylonitrile. The plant will have an annual capacity of 260,000 tons, with commercial production starting in 2024. Taekwang Industrial will own 60% and LG Chem 40%.

- Type: Acquisition
- Announced: 2021-06-02
- Where: Ulsan, South Korea, South Korea
- Status: announced
- Capacity: 260,000 tons/year
- Products: acrylonitrile
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Taekwang Industrial](https://endata.com/companies/55550.md)
- [LG Chem](https://endata.com/companies/2456.md) (partner)

## Sources

- [ajupress.com](https://www.ajupress.com/view/20210602145438161), 2021-06-02: "Through this joint venture, we can share risks from large-scale investments, enhance the competitiveness of core businesses, and expand market dominance."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.