[Courtesy of SK Innovation]
SK Innovation, a key subsidiary of South Korea's SK Group, disclosed a 370 million US dollar deal Thursday to acquire Dow Chemical's ethylene acrylic acid (EAA) business as part of efforts to diversify its portfolio into high-value-added products.
SK Innovation which controls refiner SK Energy said in a regulatory filing that its unit, SK Global Chemical, signed the deal to buy Dow Chemical's EAA-related assets in the United States and Spain. Details were not disclosed.
This year, SK Innovation has promised to spend almost three trillion won ($2.6 billion) on innovating its business partly through mergers and acquisitions. It has been interested in producing electric vehicle batteries.
reporter
Park Sae-jin
swatchsjp@ajunews.com
