[Alpha Biz=(Chicago) Reporter Paul Lee] Iljin Materials, South Korea's second-largest copper foil manufacturer acquired by Lotte Chemical, will change its name to Lotte Energy Materials.

Iljin Materials announced on the 27th that it has submitted a bill to change the articles of association for mutual change at an extraordinary shareholders' meeting to be held on March 14.

After the name change, the new mission is Lotte Energy Materials.

Lotte Chemical has decided to acquire Iljin Materials for 2.7 trillion won. The acquisition process is currently in the final stage, with the Fair Trade Commission approving the acquisition last month.

The company said in a conference call earlier this month that it expects the acquisition of Iljin Materials to be completed in the first quarter of this year.

 

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