Samsung SDI buys Samsung's Cheil Industries for $3.3 Billion

Samsung SDI announced that it is buying Samsung's Cheil Industries for $3.3 billion in stock. SDI hopes that the merger will expand the reach of its lithium-ion battery business through the chemical and materials supply chain of Cheil.

Cheil Industries is involved with OLED materials, and in August 2013, Cheil Industries (together with Samsung Electronics) acquired Novaled for €260 million. According to Analysts, this merger will also create synergies in the OLED market for automobiles. Now SDI may use Cheil's OLED business to target materials for OLED lighting and displays in automobiles.

Up until 2008 Samsung SDI handled Samsung's OLED business, and in 2008 Samsung Mobile Display was spun off. SMD was later merged into Samsung Display - which today handles all of Samsung's display business - including OLED displays. Samsung SDI changed its focus to renewable energy (mostly L-ion batteries).

Posted: Apr 01,2014 by Ron Mertens