By Reuters | Updated: September 10, 2024
SEOUL, Sept 10 (Reuters) – South Korean battery maker Samsung SDI (006400.KS), opens new tab 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.
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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)
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@ Thomson Reuters 2024
