Hyosung Chemical is reviewing the sale of its film division, including optical film.
On the 26th, Hyosung Chemical noted, "We are selecting a lead underwriter to review the sale of optical film and the film division, but nothing has been concretely confirmed so far," adding, "We will re-disclose as soon as specifics are finalized or within one month."
On the same day, according to investment banking (IB) industry sources, Hyosung Chemical has recently distributed investment memorandums (IM) to domestic and foreign prospective buyers for the sale of its film division, including optical film. The lead underwriter for the sale is Samjeong KPMG.
The optical film division produces TAC film, which protects the polarizing plate surface for LCDs. Factories were established in Ulsan Yongyeon in 2009 and in Cheongju Oksan, North Chungcheong Province, in 2013, and are currently in mass production. It is reported that the sale includes not only the optical film division but also the entire film business and two of its subsidiaries in China.