Samsung’s battery-making arm Samsung SDI is set to buy the cell material division of its chemical affiliate to bolster competitiveness in the sector.
Samsung SDI will take over the cell material unit of Samsung Fine Chemicals on September 16 in a deal worth US$15.9 million.
It will acquire the research and development facility, patent rights, staff and a 58% stake in STM, a cell manufacturer jointly set up by Samsung Fine Chemicals and Japan’s Toda Kogyo Corp in 2011.
STM mainly produces materials for secondary cells, or rechargeable batteries, on which Samsung SDI has been focusing as a fresh growth driver on increasing demand for smart devices.
The takeover is the latest in the series of asset shake-ups by Samsung Group, which has been undergoing a leadership change to Lee Jae-yong, the only son of the group’s patriarch Lee Kun-hee.