Honam Petrochemical Corp to establish PP manufacturing facility in Auburn

24-Mar-11

Honam Petrochemical Corporation is to establish a manufacturing facility for polypropylene resin materials in Auburn, its first US manufacturing operation. HPM Alabama Corporation will initially invest an estimated US$9.25 million dollars and create 30 jobs by next year. HPM will also collaborate with Auburn University for R&D projects. Honam is part of the Lotte Group. With annual revenue of approximately US$50 bln and 35,000 employees, the Lotte Group is the 5th largest conglomerate in Korea.