[Press Release] LOTTE Chemical merges with LOTTE Advanced Materials


LOTTE Chemical merges with LOTTE Advanced Materials

■ Aiming at completion of merger by next January.  
■ Synergies between chemical companies to build an even stronger global chemical company.  

LOTTE Chemical will merge with LOTTE Advanced Materials, which is a subsidiary for specialty materials possessing 100% of its shares.

This is an action taken to reinforce mid- to long-term portfolio of specialty products and to gather and develop core capacities for growth through R&D and investment.  The resolution for the merger was accepted by the Board of Directors this afternoon.

The merger contract will be signed with LOTTE Advanced Materials on the 23rd and the merger process will be completed on January 2 through registration and processing.  LOTTE Advanced Materials joined LOTTE Group in 2016 will be absorbed into LOTTE Chemical in 3 years.

By acquiring the professional technologies and products related to specialty materials, LOTTE Chemical will be able to satisfy customer needs more proactively with the raw materials and end products for greater competitiveness in the market.  Also, cross-sale of compounding products for automobiles can increase profitability and integration of R&D and Purchasing will further reinforce efficiency.