Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
4
OpenAI in talks with Samsung to power AI features, report says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
South Korean military plans to launch new division for future warfare
-
7
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
8
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Teen smoking, drinking decline, while mental health, dietary habits worsen
An affiliate of SK Innovation has signed a deal to purchase a chemical unit under Dow Chemical to expand its packaging product businesses, the company said Wednesday.
The deal is the second transaction between SK Global Chemical and the US chemical company. The SK affiliate bought Dow Chemical’s ethylene acrylic acid business for $370 million earlier this year.
The deal is the second transaction between SK Global Chemical and the US chemical company. The SK affiliate bought Dow Chemical’s ethylene acrylic acid business for $370 million earlier this year.
The sale price of Dow’s polyvinylidene chloride (PVDC) business is not revealed as the company has no obligation to make a public report on deals worth less than 2.5 of its capital ratio or 98 billion won, officials said. The deal could be worth $100 million won, according to sources.
PVDC is used for clear film packaging including plastic food wrap.
The deal was a part of SK Innovation’s future strategy, which aims to expand automotive materials and packaging business and help its affiliate SK Global Chemical become one of the top 10 chemical companies in the world by making “continuous investment,” the company said.
By Cho Chung-un (christory@heraldcorp.com)
