SK General Chemicals Invests 190 Billion KRW in French Subsidiary to Transform into High-Value-Added Company
[Asia Economy Reporter Park So-yeon] SK Geonghap Chemical is actively investing to transform into a high value-added product manufacturing company.
On the 24th, SK Geonghap Chemical announced that it held a board meeting on the 17th and approved a proposal to invest 144 million euros (approximately 190 billion KRW) in SK Functional Polymer, a French chemical product sales subsidiary.
The funds secured through the paid-in capital increase will be used for the acquisition cost and initial operating expenses related to the acquisition of the high-performance polymer business of the French chemical company Arkema, which was decided last year.
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Meanwhile, at the same board meeting, a proposal to establish branches in India and Malaysia to acquire local Arkema business assets and to create synergies through integrated marketing by global region was also approved.
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