Samsung SDI, a partner of Samsung that manufactures batteries for smartphones and displays for televisions, has just announced a merger with chemical and electrochemical company Cheil Industries, which originally also served as a partner of Samsung, according to koreaherald.com. Definitively, the two companies will not be merged until July 1st, and the official name will be the current Samsung SDI, while the Cheil Industries name will apparently be damned.
The merger is expected to enhance Samsung SDI's competitiveness and growth in the battery business by leveraging Cheil Industries' electrochemical materials technologies. This should increase its annual sales to 2020 trillion US dollars in 29.
*Source: koreaherald.com
