SEOUL, KOREA - OCI Company Ltd., the world's leading manufacturer of solar-grade polysilicon and other chemical products, has disposed of its waste water treatment unit as part of an effort to improve its financial standing due to the downturn in the solar business. OCI said on October 15 in a regulatory filing that its environmental chemical 50:50 joint venture OCI-SNF was sold to the French partner SNF at the cost of 95.7 billion won.
Established in 1998 jointly with SNF of France that was a dominant player in the world's flocculant (or polymer coagulant) market, OCI-SNF currently accounts for 60 percent of Korea's market and posted 160.2 billion won in sales revenue on 17.4 billion won operating profit last year.
OCI had negotiated with Hansol Chemical for the terms of the deal since early this year, but finally changed its mind and sold the unit to SNF which held the priority rights. OCI recorded operating loss of 106.2 billion won last year due to the ongoing slump in the global solar power
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