Lotte Chemical to sell its British subsidiary LC UK
Lotte Chemical to sell its British subsidiary LC UK
  • Jung Jun-ho
  • 승인 2019.10.31 12:24
  • 댓글 0
이 기사를 공유합니다

Courtesy of Lotte Chemical UK

Lotte Chemical said on Oct. 28 (U.S. time) that it signed an agreement with DAK Americas, a polyester unit of the Mexican petrochemical company Alpek, to sell its shares in LC UK. Lotte Chemical will use the amount secured through the sale to repay LC UK's borrowing.

LC UK is a company that was acquired in 2010 by KP Chemical, which was merged into Lotte Chemical. It made 472 billion won in sales and 21.2 billion won in operating profit in 2018. The company decided to sell LC UK, judging that the LC UK does not match the mid- to long-term vision of Lotte Chemical.

Lotte Chemical is planning to establish the "Vision 2030" and change its business structure based on qualitative growth through selection and concentration.

To this end, the company plans to expand new businesses such as high value-added businesses and U.S. projects, and strengthen existing businesses by restructuring sluggish businesses and securing cost competitiveness.

In August, Lotte Chemical announced a merger of Lotte Advanced Materials to strengthen its portfolio of specialty products. It aims to concentrate its core capabilities as a global chemical company through fast and active decision-making.

"Lotte Chemical will speed up the portfolio adjustment to move forward a global chemical company through the Vision 2030. Through this, we will do our best to achieve sustainable growth and enhance shareholders' value, " said Lotte Chemical CEO Lim Byung-yeon.
 


댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • Korea IT Times: Copyright(C) 2004, Korea IT Times. .Allrights reserved.
  • #1206, 36-4 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea(Postal Code 07331)
  • 서울특별시 영등포구 여의도동 36-4 (국제금융로8길 34) / 오륜빌딩 1206호
  • * Mobile News: m.koreaittimes.com
  • * Internet news: www.koreaittimes.com
  • * Editorial Div. 02-578-0434 / 010-2442-9446 * PR Global/AD: 82-2-578-0678.
  • * IT Times Canada: Willow St. Vancouver BC
  • 070-7008-0005
  • * Email: info@koreaittimes.com
ND소프트