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View of Kolon Industries headquarters. (Photo = Kolon Industries) |
[Alpha Biz= Reporter Kim Jisun] Kolon Industries is set to merge with and absorb Kolon Glotech's automotive materials and components business as part of a strategy to enhance business specialization and drive growth.
According to Kolon Industries on the 23rd, the restructuring will involve splitting off the automotive materials and components division of Kolon Glotech and merging it into Kolon Industries.
Kolon Industries, which already holds a 98% stake in Kolon Glotech, including treasury shares, is the majority shareholder.
Once the merger is completed in the first quarter of next year, Kolon Industries will expand its portfolio to include automotive interior materials and components.
The merger is also expected to strengthen Kolon Industries' sales network, covering key global markets such as Korea, the U.S., China, India, Europe, and Latin America.
Founded in 1987, Kolon Glotech is a comprehensive materials company that supplies automotive materials, lifestyle materials, and advanced new materials. It operates production facilities in South Korea, China, and the Philippines.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
