Two unlisted subsidiaries of Samsung Group- Samsung General Chemicals Co and Samsung Petrochemical Co. are set to merge. The merged company, to be named Samsung General Chemicals, will be launched on June 1, with shareholders to get 2.14 Samsung General Chemicals shares for each Samsung Petrochemical share they have. This decision was made in order to create more synergy among the five chemical units of Samsung. The other three units are Samsung Total, Samsung BP Chemicals and Samsung Fine Chemicals.
Samsung Total produces paraxylene, Samsung Petrochemical produces purified terephthalic acid. Greater production efficiency is expected to take place immediately after the merger. Samsung General Chemicals will then be able to supply paraxylene and other materials produced by its subsidiary Samsung Total for Samsung Petrochemical.
03-Apr-14 
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