SOUTH KOREA: Huvis To Buy Saehan’s Synthetic Fibre Unit
Huvis, a company that was created from a merger of the synthetic fibre divisions of SK Chemical and Samyang Corp, intends to acquire Saehan Corp's synthetic fibre operation, industry sources told the Korea Post yesterday. Saehan is now under a debt workout programme supervised by the Korea Development Bank (KDB).If Huvis acquires Saehan's synthetic fibre unit, it will emerge as Korea's largest producer of polyester filament yarn. It has already become the world's largest supplier of polyester staple fibre.
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