이 기사는 2022년 06월 08일 08:01 thebell 에 표출된 기사입니다.

SKC, a film and chemical materials unit of South Korea's conglomerate SK Group, said it is considering selling its polyester (PET) film business to focus on its battery materials and other eco-friendly businesses.

SKC said in its regulatory filing that the sale of the PET business is one of the various options being discussed with local private equtiy firm Hahn & Company.

SKC started off as the nation's first PET film developer in 1977. The PET film business recorded 1.3 trillion won ($1.03 billion) in revenue, accounting for 38.5% of the company’s total revenue last year.

The group management, however, has concluded that its mainstay PET film is an unsustainable business given the strengthening of environmental, social and governance (ESG) standards across industries. SKC hived off its chemicals division and sold a 49% stake to Kuwaiti state-owned KPC's Petrochemical Industries (PIC) unit for 535.8 billion won in 2019.

SKC and Kolon Industries sold their stakes in polyimide film maker SKC Kolon PI, currently PI Advanced Materials, to Glenwood Private Equity in 2020. SKC secured more than 300 billion won from the sale. SKC also sold a 27.94% stake in SK Bioland to Hyundai HCN for 120.5 billion won.

SKC’s PET film business is expected to be sold for 1.6 trillion won. The proceeds from the possible sale is expected be used to invest in new businesses. SKC has been reorganizing its businesses to focus more on eco-friendly businesses such as electric vehicle batteries, battery materials and hydrogen production.

SKC acquired KCFT, a copper foil manufacturer, from KKR for 1.2 trillion won in 2019 and has now renamed the company SK Nexilis as its wholly owned subsidiary.

SKC formed a consortium with SJL Partners and BNW Investment to invest in U.K. silicon anode firm Nexeon Limited with an aim to start mass production of silicon anode material in 2024. SKC injected $33 million of total $80 million. The company also invested $80 million to manufacture glass-based substrates for semiconductor chips in Covington, Georgia.

The chemical material manufacturer announced that it will set up a joint venture with Daesang, a major food material and product company, and LX International, a trading firm, to produce polybutylene adipate terephthalate (PBAT). (Reporting by Wie-su Kim)