Archer Daniels Midland and LG Chem Scrap Collaborations Amid Cost Challenges
Friday, 12 July 2024, 16:42
ADM and LG Chem Cancel Joint Ventures
Archer Daniels Midland (ADM) and LG Chem have decided to cancel their joint ventures due to the surging construction costs.
High Construction Costs Cited
Both companies have cited the high costs as the primary reason behind the termination of collaborations.
- Material Production for Plant-based Products: The joint ventures were planned to produce materials for innovative plant-based products like bioplastics.
- Impact on Sustainability: The cancellation of these projects raises concerns about the future of sustainable material production.
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