Kolon Industry to Sell Part of Specialty Business... Signs MOU with IMM PE
Pursuing Sale of OLED Encapsulation and DFR Businesses
Focusing on High Value-Added Businesses such as mPPO and CPI
Kolon Industry announced on the 13th that it has signed a memorandum of understanding (MOU) with IMM PE, the preferred negotiation partner for the sale of its functional materials and imaging materials businesses.
Under this MOU, Kolon Industry will pursue the transfer of its overcoat (OC), OLED encapsulation materials, dry film (DFR) businesses, and related equity under its Specialty Business Division. The plan is to grant IMM PE the exclusive negotiation rights and discuss key matters before signing the final agreement.
OC is used to flatten the surface of color filters within display panels, thereby improving liquid crystal operation and panel reliability. OLED encapsulation materials protect the OLED panel's light-emitting layer from oxygen and moisture. DFR is a photosensitive film material used in forming printed circuit boards (PCB).
Kolon Industry has recently continued its business streamlining efforts, including the merger of Kolon Glotech's automotive materials components business and the merger with ENP. The company explained that this transfer transaction is also part of its efforts to strengthen corporate competitiveness. It plans to use the proceeds from the transfer to improve its financial structure and invest in new businesses to further enhance its competitiveness.
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A Kolon Industry official stated, "This business transfer agreement is in line with Kolon Industry's long-term development plan to focus on our core competencies," adding, "We will continue to foster high value-added core businesses such as modified polyphenylene oxide (mPPO) and colorless polyimide film (CPI), while also striving to discover new growth engines."
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