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OCI to focus on solar photovoltaic business and sell off OCI Materials

Jeansun Kim  |  jeansun.kim@whowired.com
룿듃궎슦湲 룿듃以꾩씠湲 봽由고듃븯湲 硫붿씪蹂대궡湲 떊怨좏븯湲
듅씤 2015.06.01  10:36:09
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OCI will zoom in on its core solar photovoltaic business divesting by its special gas supplier OCI Materials. OCT notified on the 29th that it sold off 5.178535 million shares or a 49.1% stake in OCI Materials through restricted lowest price bidding.

The lead manager for the sales is Credit Swiss which will decide the buyer after preliminary bidding and due diligence in July and major bidding in August. OCT’s latest strategic sell-off decision is interpreted as a move to rearrange its business structure to fully invest in finding the next cash cow. 

OCT will funnel its sales gain into its core businesses such as carbon chemical, and a new regenerative energy sectors such as solar photovoltaic generation and ESS. It is expected to focus its investment in solar energy by building a 2.5MW distributional solar power plant after winning an order of a 400MW project in China and entering the US market in 2011. It will build more solar plants in India and Africa. 

In the meantime, it will continue expanding its investment into its conventional chemical business sector including petrochemical and coal chemical areas in China. OCI Materials was first founded in Youngju, North Gyungsang area in 1982 and bought over by OCI in 2005. Its sales reached 211.7 billion won in sales and 26.4 billion won in operating profit. 

Jeansun Kim쓽 떎瑜멸린궗 蹂닿린  
룿듃궎슦湲 룿듃以꾩씠湲 봽由고듃븯湲 硫붿씪蹂대궡湲 떊怨좏븯湲
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