Samsung SDI has announced its decision to sell its polarizing film business to Wuxi Hengxin Optoelectronic Materials, a Chinese firm, for 1.12 trillion won ($836.47 million). This sale includes the manufacturing and sales facilities located in South Korea’s Cheongju and Suwon regions, along with full ownership of its overseas unit in Wuxi, China.
In a regulatory filing, the South Korean battery maker explained that this move allows the company to prioritize investments in materials for semiconductors, organic light-emitting diodes (OLEDs), and batteries. The shift aims to enhance competitiveness and create greater synergy with its core battery business through ongoing investments.
Featured Image courtesy of Asia Financial
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