UPDATED. 2024-06-18 18:50 (화)
Smartphone glass firm Ryuk-Il C&S acquires C&A
Smartphone glass firm Ryuk-Il C&S acquires C&A
  • Gijong Lee
  • 승인 2021.12.22 15:35
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LG supplier looks for new business opportunity
Image: C&A
Image: C&A

Smartphone glass firm Ryuk-Il C&S said on Tuesday that it has acquired chemical firm C&A for 1.8 billion won.

Ryuk-Il C&S has been looking for new business opportunities since its customer LG Electronics’ exit of their smartphones business in April.

LG Electronics had accounted for 80% of Ryuk-Il C&S’ revenue at the time.

The glass firm offers curved glass for automobiles and IT products.

C&A produces chemicals such as absorbents for ultraviolet rays and PVC stabilizers.

It has a production capacity of 2,000 metric tonnes per year and recorded 17 billion won in revenue and 1.3 billion won in operating income last year. Around 46% of its revenue came from overseas in that year.

A Ryuk-Il C&S spokesperson said the company was reviewing more acquisitions and the formation of joint ventures.

As of the third quarter, the firm had 37.9 billion won in cash and cash-like assets, likely from the compensation given by LG Electronics from their exit.

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