Karachi June 10 2022: LOTTE Chemical Corporation, South Korea ("LCC Korea") the majority (75%) shareholder of LOTTE Chemical Pakistan Ltd ("the Company") has notified that as part of its long-term strategy, LCC Korea is optimizing portfolios over many assets, with the strategic divestment options for the Company also under consideration.
Lotte Chemical Pakistan Limited was incorporated in Pakistan on 30 May 1998 under the Companies Ordinance, 1984 ( repealed with enactment of the Companies Act, 2017). The principal activity of the Company is to manufacture and sale of Pure Terephthalic Acid (PTA).