Cheil Industries
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| Traded as | KRX: |
|---|---|
| Founded | September 15, 1954 |
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Number of employees
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2,897 (2007) |
| Website | www.cheilind.co.kr |
| Cheil Industries | |
| Hangul | 제일모직 |
|---|---|
| Hanja | 第一毛織 |
| Revised Romanization | Jeil Mojik |
| McCune–Reischauer | Cheil Mojik |
Cheil Industries was an affiliate of the Samsung Group.
Since its establishment in 1954, Cheil Industries has been a Korean textile firm.
Thereafter, from 1980s, the company expanded its business areas into fashion, chemicals and electronic chemical materials (ECM).
In October 2014, Cheil Industries submitted plans for an Initial Public Offering, with around $1.41 billion in shares planned for listing on the .
After the merger:
Cheil Industries began its business by producing textiles since 1954. The company then expanded its business areas into fashion by launching its first men's wear range in 1989. Since then, it has diversified into casual wear, ladies' wear and sports wear.
Cheil Industries was the first Korean fashion company to introduce the just-in-time[JIT] system as part of its restructuring efforts, considerably enhancing management efficiency through reduced lead time in the manufacturing process. It also made moves via consistent brand restructuring initiatives to enter into new business lines that it deems to have high growth potential. Through these initiatives, Cheil Industries was successful in building a profitable business structure, thereby establishing itself as a fashion company.
In 2013 Cheil Industries sold the fashion business to Samsung Everland in a 1.05 trillion won ($968.6 million) deal. After the merger of Cheil Industries (the chemicals and materials business) with Samsung SDI in 2014 Samsung Everland renamed itself to Cheil Industries Inc. In 2015 Cheil Industries merged with Samsung C&T and the new company was named Samsung C&T.
Now part of Samsung SDI Chemicals and Electronic Materials. Samsung SDI bought Cheil Industries for 3.5 trillion won ($3.3 billion) in stock in 2014. Cheil investors received about 0.44 of a share in the enlarged SDI for each share they owned.
Cheil Industries began its chemical business in 1989. The company entered into the polycarbonate [PC] business in 2007. A new PC plant was completed in March 2008 and is now operational. The company also produces flame-retardant ABS, sheet ABS, flame-retardant high-impact PS (HIPS), polycarbonate (PC), heat-recasting ABS for vehicles, and artificial marble.
Cheil Industries' electronic material business started with the company's development in 1996 of EMC. The ECM business unit of Cheil Industries acquired KOSDAQ-listed Ace Digitech in March 2007 and began a polarizing film business, a core component of liquid crystal display [LCD] panels.
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