ID :
33518
Tue, 12/02/2008 - 11:07
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Shortlink :
http://m.oananews.org//node/33518
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LG Chem to spin off industrial material division
By Nam Kwang-sik
SEOUL, Dec. 2 (Yonhap) -- The board of LG Chem Ltd., South Korea's leading producer of chemicals, decided Tuesday to spin off its industrial material division by the end of March next year to secure a new growth engine.
Shareholders will hold a meeting on Jan. 23 to vote on the proposed spinoff, LG
Chem said in a regulatory filing.
"The move is aimed at seeking a new growth engine by enhancing the competitive
edge of each business and boosting investor interest," the company said.
LG Chem's business portfolio ranges from petrochemicals, batteries, information
and technology materials to industrial materials, including auto parts and
construction interior materials.
SEOUL, Dec. 2 (Yonhap) -- The board of LG Chem Ltd., South Korea's leading producer of chemicals, decided Tuesday to spin off its industrial material division by the end of March next year to secure a new growth engine.
Shareholders will hold a meeting on Jan. 23 to vote on the proposed spinoff, LG
Chem said in a regulatory filing.
"The move is aimed at seeking a new growth engine by enhancing the competitive
edge of each business and boosting investor interest," the company said.
LG Chem's business portfolio ranges from petrochemicals, batteries, information
and technology materials to industrial materials, including auto parts and
construction interior materials.
