Founded in 1947, LG Chem was Korea’s first chemical company. The company produces a variety of products, including petrochemicals, pharmaceuticals, and specialty chemicals. The project is to build a 30-kt ABS compounding plant and technical center to serve the North American market. The main driver for expansion is to satisfy the customers’ needs as many expressed delivery time and having a local supplier for supply stability as their core focus based on interviews conducted with both existing and potential clients in the U.S. This will serve as the basis for both increasing market share and strengthening customer satisfaction. The company selected Ravenna, OH due to the availability of rail at the Chestnut Commerce Center, which was developed by Raymond and Ann Harner. Geis Companies is constructing the plant and technical center for a total of 254,000 square feet of buildings. The project will employ 72. CBRE contacted PDB in January 2021 looking for a site. The team included the City of Ravenna, Ohio, the Ravenna School District, Portage County, FirstEnergy Corporation, Dominion Energy, Team NEO, JobsOhio, the Portage County Port Authority, and ABC Railway. LG Chem acquired the site in December 2021.
