GS Caltex sets up polymer compounds unit in Czech Republic

13-Jul-11

In an effort to diversify its overseas business portfolio, GS Caltex Co. has set up a unit in the Czech Republic to produce and sell polymer compounds. To be located in Karvina, the plant is expected to have annual sales of 100 billion won (US$93.8 mln), and construction is expected to be completed next year. GS Caltex is South Korea's second-largest refiner. The unit, GS Caltex Czech, will start to build a plant later this year. Europe is one of the biggest polymer compounds markets, with demand estimated to have reached 1.2 mln tpa.