Samsung SDI to sell polarizing film business to Chinese firm for $836 million

SEOUL (Reuters) – South Korean battery maker Samsung (KS:005930) SDI said on Tuesday it had decided to sell its polarizing film business to China’s Wuxi Hengxin Optoelectronic Materials for 1.12 trillion won ($836.47 million).

Samsung SDI said in a regulatory filing the sale includes the manufacturing and sales of polarizing films in the South Korean regions of Cheongju and Suwon, as well as 100% of its overseas unit at Wuxi, China.

The battery maker said the department making the divestment plans to focus on materials for semiconductors, organic light-emitting diode (OLED), and batteries going forward, to enhance competitiveness and maximize synergy with the battery business through continuous investment.

($1 = 1,338.9600 won)