Secures global competitiveness through an integrated system encompassing raw materials, production, marketing - to lead global window film market

Ÿ Firm targets 100 billion won in sales, 5% of world window film market to emerge as global top 3

Ÿ To maximize synergy through MN Tech’s production technology, SKC’s raw materials and marketing, plus integration of the two firms’ R&D capacities





SKC (CEO Park Jang-seok) and MN Tech (CEO Kim Cheol-young) announced that they have established a joint venture firm to enter the window films sector for buildings and automobiles, and both companies held an inaugural ceremony on July 4. This new undertaking, which was launched under the name “SKC M&T,” saw SKC secure a 49 percent stake through a third-party capital increase, with an established cooperative partnership, while an executive of MN Tech, which holds a 51 percent stake in the joint venture, will assume the founding CEO post. SKC M&T will construct the production lines in Cheongwon, North Chungcheong Province, and add four production lines by investing 20 billion won through 2015 to operate a total of six lines. Through these efforts, the company aims to produce diverse products and achieve an economy of scale in order to secure cost competitiveness and accelerate its advance into the global market.



Secure 100 billion won in sales, 5% share of the global market to join the league of global top 3 in 2015



At the inaugural ceremony, SKC CEO Park Jang-seok, and MN Tech CEO Kim Cheol-young emphasized, “The joint venture is an example that integrates the strengths of the two leading domestic wind film companies, and we will quickly develop this new firm into a world leading enterprise by maximizing the synergy in order to ensure this partnership fulfills its true potential.” They also presented their goal by saying, “By securing 100 billion won in sales and a 5 percent share of the global market, the new company will join the league of the global top three by 2015.” Widely known as “Sun-tin film” in Korea, window film is attached to the exterior windows of buildings and automobile glass to block ultraviolet rays, a source of heat. Amid growing interest in energy conservation, the demand for window film has been rising as a key means of heat insulation. The global window film demand is estimated to stand at 1.8 trillion won in 2012, and the market is projected to grow by 4 percent per year.



Maximization of synergy through MN Tech taking charge of production; SKC overseeing raw materials and marketing; and partners’ joint R&D


MN Tech, which possesses high-tech film coating technology, will take charge of production for the new undertaking “SKC M&T,” while SKC, a world leading PET film producer, will be responsible for raw material supply and marketing. On top of this, the two firms will integrate their R&D capacities and thereby make speedy inroads into the global market that is currently spearheaded by U.S. and Japanese companies. Depending on the level of technology a producer owns, window films can be developed as high value-added products and generate new demand due to diverse applications. SK M&T will secure an integrated production system ranging from raw materials to production and R&D, and provide total solutions to meet the diverse demand in the market, to emerge as a leading p in the global market.