Kolon Industries announced that it has signed a memorandum of understanding (MOU) with IMM PE, the preferred bidder for the sale of its functional materials and imaging materials businesses.
Under the MOU, Kolon Industries will proceed with the transfer of shares related to its specialty business division, including OC (Overcoat), OLED encapsulation materials, and DFR (Dry Film) business. IMM PE has been granted exclusive negotiation rights, and the two parties will discuss the basic terms of the transaction before finalizing the contract. Industry estimates suggest the sale could be valued at around 200 billion won.
OC is a material that smooths the surface of color filters in display panels, enhancing liquid crystal operation and panel reliability. OLED encapsulation materials protect the light-emitting layer of OLED panels from oxygen and moisture. DFR, a photosensitive film, is used in the formation of PCB electrical circuits.
Kolon Industries aims to restructure its business portfolio and enhance corporate competitiveness through this divestiture. The proceeds from the sale will be utilized for improving financial structure and investing in new business ventures.
A representative from Kolon Industries stated, "This business transfer is part of our long-term development plan to focus on core competencies. We will continue to nurture high-value core businesses such as mPPO and CPI while also seeking new growth drivers."
Meanwhile, it has been reported that Kolon Industries' fashion division is also considering the sale of some businesses, including women's clothing brands, due to poor performance.
* This article has been translated by AI.
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