Samsung SDI to sell polarizing film business to Chinese firm for $836 mln (updated)

Samsung SDI

10/09/2024 24:58

(Adds details, paragraphs 2-3)
       SEOUL, Sept 10 (Reuters) - South Korean battery maker
Samsung SDI  006400.KS  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)
 ((joyce.lee@tr.com;))