|
![A Samsung SDI employee inspects products being manufactured at the Cheongju Samsung SDI polarizing film plant. [Courtesy of Samsung SDI Co.]](https://wimg.mk.co.kr/news/cms/202409/10/news-p.v1.20240910.285d79015269469991dfcda88f1ee1e4_P1.jpg) 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.
|
|
