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Toray secures preferential bidding rights for stake in Woongjin Chemical

12:47 AM MDT | October 3, 2013 | Deepti Ramesh

Toray Industries says its wholly owned Toray Advanced Materials Korea (TAK; Seoul) subsidiary has secured preferential negotiating rights for acquiring a 56.2% stake in Woongjin Chemical (Seoul). Toray says it will announce the outcome of the negotiations when a decision is reached. Woongjin Chemical, which was established in 1972, manufactures products such as high-performance fibers, reverse osmosis membrane filters for water treatment, and polyethylene terephthalate sheets. The 56.2% stake in Woongjin Chemical that Toray could acquire includes a 46.3% stake...

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