LG Chem's plan to launch new business entity for its battery business approved by shareholders
- 3 years ago
LG화학 배터리 사업부문 분할 주총서 승인
A plan by South Korea's leading chemical company LG Chem to spin off its battery business has been approved by the firm's shareholders.
Following a vote Friday morning, a new entity named LG Energy Solutions will be launched December first.
South Korea's National Pension Service,... LG Chem's second-largest shareholder opposed the plan, but it was still overwhelmingly approved.
LG Chem, the world's largest supplier of electric vehicle batteries, announced its plan last month, saying it was necessary to cope with increasing global demand.
A plan by South Korea's leading chemical company LG Chem to spin off its battery business has been approved by the firm's shareholders.
Following a vote Friday morning, a new entity named LG Energy Solutions will be launched December first.
South Korea's National Pension Service,... LG Chem's second-largest shareholder opposed the plan, but it was still overwhelmingly approved.
LG Chem, the world's largest supplier of electric vehicle batteries, announced its plan last month, saying it was necessary to cope with increasing global demand.