Kolon Industry to merge Kolon Low-Tech's automotive materials and parts business

Chemical materials giant Kolon Industry has resolved at its board of directors meeting to split off and merge Kolon Ro-Tech's automotive materials and parts business.
Kolong Low Tech is a major shareholder with a 98% stake in the company. Kolong Low Tech has production bases in Korea, China and the Philippines, as well as sales channels in China, the US and India.
Kolon Low-Tech's automotive materials and parts division will be split off and then absorbed by Kolon Industry. When the merger is completed in 2025, Kolon Industry will become the
Kolon Industries will be able to strengthen its portfolio by handling everything from automotive interior materials to parts.
The company's airbags, one of its main products, will be exported through the Indian sales network, while its high-end artificial suede product "Shamdo" will be sold in North America.
Kolon Industries said, "This division and acquisition will strengthen our expertise in the materials and parts business to meet the needs of the rapidly changing automotive market.
"The goal is to make it a more