Kolon Industries to merge with Kolon Glotech’s auto materials division

Kolon One&Only Tower located in Magok-dong, Gangseo-gu, Seoul. (Kolon Industries)

Kolon Industries Inc. will merge with the auto materials and parts unit of Kolon Glotech, with an aim to become a leading global auto parts manufacturer.

Kolon Industries announced on Monday that its board has approved the plan of merging with the auto materials and parts unit of Kolon Glotech.

Kolon Glotech will spin off the division before the merger.

As the largest shareholder of Kolon Glotech with a 98 percent stake, Kolon Industries will gain access to Kolon Glotech’s sales network and an extensive product portfolio. The merger will be completed by the first quarter of 2025.

Kolon Glotech has been supplying auto materials to major automakers. It has production sites in Korea, China, and the Philippines, with sales networks in the United States, China, and India.