SEOUL (Reuters) – South Korean battery maker Samsung SDI said on Tuesday it had decided to sell its polarizing film business to China’s Wuxi Hengxin Optoelectronic Materials for 1.12 trillion won ($836.47 million). Samsung SDI said in a regulatory filing the sale includes the manufacturing and sales of polarizing films in the South Korean regions […]
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Samsung SDI to sell polarizing film business to Chinese firm for $836 million
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SEOUL (Reuters) – South Korean battery maker Samsung SDI said on Tuesday it had decided to sell its polarizing film business to China’s Wuxi Hengxin Optoelectronic Materials for 1.12 trillion won ($836.47 million).
Samsung SDI said in a regulatory filing the sale includes the manufacturing and sales of polarizing films in the South Korean regions of Cheongju and Suwon, as well as 100% of its overseas unit at Wuxi, China.
The battery maker said the department making the divestment plans to focus on materials for semiconductors, organic light-emitting diode (OLED), and batteries going forward, to enhance competitiveness and maximize synergy with the battery business through continuous investment.
($1 = 1,338.9600 won)
(Reporting by Joyce Lee; Editing by Ed Davies)