|
Samsung SDI Co. is poised to sell its unprofitable polarizing film division to a Chinese company. The South Korean battery maker announced its decision to sell off the business to China¡¯s Wuxi Hengxin Optoelectronic Materials for 1.12 trillion won ($899 million) on Tuesday. The sale includes all aspects of the Korean company¡¯s polarizing film manufacturing and sales operations at its Cheongju and Suwon plants as well as its entire unit at Wuxi, China. Wuxi Hengxin Optoelectronic Materials is a joint venture between Nuoyan Capital and Heungmei Optoelectronics, a polarizing film manufacturing and sales company with more than 40 subsidiaries in industries such as displays, smart vehicles, and semiconductors. Similar selloffs can be found in Korea¡¯s polarizing film industry. LG Chem Ltd. sold its polarizer and polarizer materials segment to a Chinese firm in 2023, while SKC Co. sold its base film business to private equity firm Hahn & Company in 2022.
|
|