{
  "id": 12302731,
  "title": "Lotte Chemical Pakistan changes name to Noventra Limited",
  "url": "https://urgent.news/2026/10/06/lotte-chemical-pakistan-changes-name-to-noventra-limited",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-06T04:48:02.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40442861/lotte-chemical-pakistan-changes-name-to-noventra-limited"
  },
  "original_language": "en",
  "account": null,
  "summary": "Lotte Chemical Pakistan Limited, a company formerly known as LOTCHEM, has undergone a name change to Noventra Limited effective October 5. The Securities and Exchange Commission of Pakistan (SECP) approved this change, issuing a certificate of incorporation that reflects the transition. The company's website will now be accessible at www.noventra.ltd. This name change is contingent upon the company's continued use of both names for a period of ninety days post-certification on all business-related materials and communications. Lotte Chemical Pakistan has a history dating back to 1998, initially developed by ICI and subsequently acquired by the Lotte Group. The company specializes in producing Purified Terephthalic Acid (PTA), a crucial ingredient in manufacturing various polyester products. Lotte Chemical Corporation, a South Korean entity, held a majority stake of 75% in LOTCHEM until January 2023, when it decided to sell its shares for over $155 million. The acquisition by PTA Global Holding Limited, a joint venture between Montage Commodities FZCO and Asia Pak Investments, finalized on November 12, 2025, marking the end of Lotte Chemical Corporation's involvement in the company.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}