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Lotte confirms interest in buying Woongjin Chemical

8:10 AM MDT | July 19, 2013 | Natasha Alperowicz

Lotte Chemical today confirmed to the Korean Stock Exchange that it has submitted a proposal to acquire Woongjin Chemical (Seoul). Lotte is among several companies that expressed an interest in acquiring Woongjin, a producer of polyester filament and staple fibers, polyester chips, and membrane filters. The companies that previously expressed interest in buying Woongjin include LG Chem, Toray Advanced Materials Korea, Huvis, GS Group, Hyosung Group, Cheil Industries, and TK Chemical.   Woongjin was originally established in 1972 as Cheil Synthetics and...

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