SK Innovation completes acquisition of PVDC unit
SK Innovation completed the acquisition of a polyvinylidene chloride (PVDC) business from Dow Chemical through its affiliate SK Global Chemical as the company continues to expand its portfolio beyond oil refining.The company announced on Monday that it closed a deal on Friday to fully obtain the American chemical giant’s PVDC unit. The finalization of the deal came two months after the two companies started negotiations in October.
The Korean oil-refiner is taking over the trademark right to Saran, Dow Chemical’s PVDC brand, as well as the manufacturing facility in Michigan and other related intellectual properties.
The deal to acquire the PVDC unit is the second deal that SK has made with Dow Chemical. In September, the company absorbed an ethylene acrylic acid unit, also from Dow Chemical.
By Choi Hyung-jo
with the Korea JoongAng Daily
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