[Alpha Biz=(Chicago) Reporter Kim Jisun] SKC cleans up its raw material business for polyurethane (PU), a chemical material.
SKC held a board meeting on the 12th and decided to sell a 100% stake in SK PU Core to Glenwood Private Equity.
The sale price is 410.3 billion won. The sale also included Woori Finechem's optical polyurethane material business, which SKC acquired in 2019. SKC plans to close the deal by the end of the year, starting with a SPA.
SK PU Core has been producing polyol, a raw material for PU, since 1991. It has rapidly expanded its overseas production bases in the U.S., China, Poland and Mexico, and has been in charge of both axes of the SKC chemical business with SK PIC Global.
SKC is selling its PU raw material business to transform itself into a global material ESG (Environmental, Social and Governance) solution focused on secondary batteries, semiconductors and eco-friendly materials. PU raw material business had to decide whether to make a large-scale additional investment or not due to increased market demand.
Glenwood PE is expected to strengthen its global competitiveness in PU raw material business through additional investment after acquiring SK PU Core.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
