The company cited stronger earnings from higher sales of TMAC (tetramethylammonium chloride aqueous solution), a raw material used in semiconductor developer solutions, amid a boom in the chip market. It also pointed to higher international prices for ECH (epichlorohydrin), a feedstock for epoxy resins, and increased sales from expanded capacity for Heros, a cellulose-based paint additive.
Lotte Fine Chemical said profitability is expected to improve further in the second quarter as it steps up eco-friendly businesses. The company has entered the ammonia marine-fuel supply (bunkering) market and said it succeeded in commercializing the business on April 23, positioning itself as a leading company in clean ammonia.
It is also preparing to break ground on a new plant for higher value-added products. Handuck Chemical, a Lotte chemical affiliate that produces TMAH (tetramethylammonium hydroxide) used in semiconductor developer solutions, plans to start construction of a new plant in Pyeongtaek in the second quarter. TMAC is a key raw material for developer solutions used in semiconductor circuit etching processes, and Lotte Fine Chemical said it has the world’s No. 1 TMAC production capacity.
Chief Executive Jeong Seung-won said, "In the first quarter, profitability improved sharply due to factors including increased sales of TMAC, a raw material for semiconductor developer solutions, amid a boom in the semiconductor market." He added, "This year will be one in which we deliver visible results in the ammonia marine-fuel business and core semiconductor materials businesses we have been pursuing to strengthen eco-friendly and higher value-added operations."
* This article has been translated by AI.
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