Dong­wha buys Fin­nish tegofilm man­u­fac­turer

The Korea Times - - BUSINESS - By Park Jae-hyuk jae­hyuk@ktimes.com

Dong­wha En­ter­prise has bought Kotkamills Im­prex for 34.5 bil­lion won ($30.5 million), be­com­ing the world’s sec­ond-largest tegofilm pro­ducer, the com­pany said Fri­day.

Kotkamills Im­prex is a sub­sidiary of the Fin­nish-based wood prod­ucts com­pany, Kotkamills Oy.

Tegofilm, or phe­no­lic sur­face pa­per, is an ad­he­sive sheet made by im­preg­nat­ing craft pa­per with phe­no­lic resin that is re­sis­tant to wa­ter and pol­lu­tion. It is used for con­crete shut­ter­ing, af­ter the sheet is dried and at­tached to ply­wood.

Only four com­pa­nies around the world, in­clud­ing Dong­wha and Kotkamills, can pro­duce tegofilm.

Kotkamills Im­prex, which spe­cial­izes i n tegofilm and resin-treated core ma­te­ri­als for high-pres­sure lam­i­nates, has pro­duced 8.5 million square me­ters of tegofilm a month, fol­low­ing Ger­man-based Sur­fac­tor with 25 million square me­ters and Ja­panese-based AICA with 11.7 million square me­ters.

Dong­wha En­ter­prise has pro- duced 5.4 million square me­ters of tegofilm a month.

“Large ply­wood man­u­fac­tur­ers in Fin­land and Rus­sia have rec­og­nized Kotkamills Im­prex’s prod­ucts for their good qual­i­ties,” a Dong­wha of­fi­cial said. “With our first pro­duc­tion base in Europe, we are ex­pect­ing to ex­pand our pres­ences in Rus­sia and other Euro­pean coun­tries.”

The com­pany will likely im­prove the prof­itabil­ity of its tegofilm busi­ness as well be­cause the ply­wood in­dus­try in Europe has con­tin­ued to grow over the past years. Also, Euro­pean com­pa­nies are us­ing tegofilm for fur­ni­ture and ships, while Asian com­pa­nies are only us­ing the ad­he­sive sheets for con­crete shut­ter­ing.

“The Euro­pean mar­ket has many more po­ten­tial cus­tomers than the Asian mar­ket,” the of­fi­cial said.

On top of the re­cent acquisition, Dong­wha En­ter­prise has con­tin­ued to make at­tempts to fos­ter its chem­i­cal ma­te­rial busi­ness, re­gard­ing the sec­tor as the com­pany’s new growth en­gine.

In April, it bought Tae Yang Chem­i­cal, the lead­ing liq­uid phe­no­lic resin pro­ducer in Korea, for 40.5 bil­lion won.

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