Honam Petrochemical to Enter Carbon Fiber Composites Business

Honam Petrochemical Corp. (Seoul), seeking to expand to new markets, says it will enter the carbon fiber composite business. The company has signed an agreement to buy a controlling stake in DACC Aerospace Co. (Seoul), a supplier of aircraft parts. Honam will take over a 50% stake plus one share in DACC, as part of the deal with DACC Co. Ltd., the parent of DACC Aerospace.  Honam and DACC Aerospace plan to develop a business supplying cabon fiber composites for aircraft through which they hope to generate sales of more than won200 billion ($168 million)...

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