Photo credit: Hyosung Chemical

 

 

[Alpha Biz= Reporter Kim Jisun] Hyosung Chemical announced on the 20th that it has withdrawn the selection of the consortium between STIC Investments and IMM Private Equity (IMM PE) as the preferred bidder for its specialty gas business.

The company stated, "Despite discussions with the preferred bidder to finalize the sale agreement, no mutual consensus was reached, leading to the withdrawal of the preferred bidder status." It further emphasized, "We are continuing efforts to sell the specialty gas business by engaging with other potential investors."

Hyosung Chemical's specialty gas division produces nitrogen trifluoride (NF3), used in semiconductor and display manufacturing processes for removing impurities. With an annual production capacity of 8,000 tons, it ranks third globally by output, following SK Specialty, the world leader, and China's Feilik.

 

 

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