April 08, 1998 in Social Responsibility News

SAMSUNG Engineering Receives Petrochemical Plant Construction Order from BASF Korea

SEOUL, Korea - April 8, 1998 - Samsung Engineering Co., Ltd. (President Yang In-Mo) announced today that it has won a KRW16 billion (US$11 million) construction project from BASF Korea (President Von Mengersen), the Korean subsidiary of Germany's world renowned chemical company BASF AG. The turnkey project includes utilities and the annex of a butendiol production plant, estimated to have an annual capacity of 50 thousand tons.
The plant to be located in the Ulsan petrochemical complex, is scheduled for completion by September 1999. Samsung Engineering will be responsible for the entire construction, spanning from design, purchase, construction to test drive stage.

Last November 14, Samsung received a US$40 million butendiol plant turnkey Contract for the same complex. Butendiol is an engineering plastic material used for automobiles and electronic parts. The latest contract with BASF was due to a reference from a previous contract partner, in recognition of Samsung's capability and technology.

BASF, one of the world leading chemical companies, views the Korean market positively and through its huge investments is contributing to Korea's economy by creating jobs. Samsung Engineering expects to have a distinct advantage in future orders as BASF is planning to expand in Korea.

Samsung Engineering Co., Ltd., a member of the US$92.7 billion Korea-based Samsung Group, is exporting petrochemical plants and technology on a turnkey basis to such markets as Southeast Asia, Middle East and Latin America. The company's other main businesses include construction of environmental plants, refineries and gas plants. SECL also operates Environment Research and Development Center, which among other projects is developing technology for wastewater treatment and ethanol fuel production. Samsung Engineering employs 1,600 people and recorded sales of Won 1.07 trillion (US$650 million) in 1997.


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