LG Chem is joining forces with luxury vinyl tile (LVT) flooring leader NOX Corp. to expand the bio-balanced polyvinyl chloride (PVC) sector. LG Chem signed a memorandum of understanding (MOU) with NOX Corp. to cooperate on a bio-balanced PVC initiative targeting carbon emission reduction and resource circulation. The signing ceremony was attended by LG Chem’s petrochemical business head Noh Kug-lae and NOX Corp. president and CEO Dan Koh.
PVC is a representative all-purpose plastic that can replace wood or iron for thermal insulation capability and durability. It is mainly used as raw material for flooring, window systems and construction materials. LG Chem will supply NOX Corp. with PVC derived from renewable plant-based raw materials. NOX Corp. will use the PVCs to produce LVTs.
The first batch of bio-balanced PVCs was expected to be rolled out by LG Chem in October. NOX Corp then will launch the LVTs made with these PVCs in January, which eventually will allow both companies to promote the product in about 50 countries worldwide. LG Chem has continued to lead in the production and delivery of PVC, neopentyl glycol (NPG), phenol and acetone to key customers worldwide.
LG Chem also is ramping up efforts to enter new markets with nearly 50 ISCC Plus-certified products. NOX Corp. currently leads the global commercial LVT sector with approximately 20 percent market share. NOX Corp. products are used in floorings in high traffic venues.
For more information, visit www.lgchem.com.