OCI·Hanmi Pharm Integration... Aiming to Strengthen Synergy in Bio and Advanced Materials

OCI Group, specializing in materials and energy, and Hanmi Pharmaceutical Group, specializing in new drug development, have decided to merge. This integration is analyzed to have been decided to create synergy between the bio and advanced materials sectors.

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On the 12th, OCI Group and Hanmi Pharmaceutical Group announced that they had signed an agreement on the merger through each company's contribution in kind and acquisition of new shares. OCI Holdings, the holding company of OCI Group, will acquire a total of 27% of Hanmi Science, the holding company of Hanmi Pharmaceutical Group, including 18.6% through existing shares and contribution in kind, and 8.4% through new share issuance, by investing 770.3 billion KRW. Key shareholders of Hanmi Science, including President Lim Joo-hyun, will acquire 10.4% of OCI shares.

OCI Holdings will appoint two inside directors, including one representative director from each group, to form a joint board of directors. President Lee Woo-hyun of OCI Holdings and President Lim will each serve as co-CEOs. Once the contributions in kind and new share issuances from both groups are completed, the two groups will be integrated into a single company. In the future, OCI Holdings and Hanmi Science will also proceed with brand integration work, including company name and corporate identity (CI).

Going forward, OCI Group and Hanmi Pharmaceutical Group are expected to create synergy by utilizing each company's sectors. OCI Group is anticipated to strengthen its advanced materials and healthcare fields. It is interpreted that OCI Group has gained strong research and development (R&D) momentum through massive capital investment. Additionally, OCI Group is expected to expand into the global market through its overseas network.

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