Synopex Completes Acquisition of Lotte Chemical's Water Treatment Business

[Financial News] Synopex announced on the 1st that it has completed the acquisition of Lotte Chemical's water treatment business division.
Synopex, through its subsidiary Synopex Membrane, signed a transfer agreement with Lotte Chemical for the water treatment business on June 19. Subsequently, it completed a comprehensive acquisition process, including factory due diligence, patents, clients, and personnel, over 40 days.
With this business acquisition, Synopex has secured a total solution in the water treatment field, being the only domestic company to offer a portfolio of pressurized 'PVDF' membranes and submerged 'MBR' membranes used in all areas of water treatment such as purification, wastewater treatment, reuse, and seawater desalination.
This case is particularly evaluated as an example of win-win cooperation through technology transfer between large and medium-sized enterprises. Synopex Membrane acquired a total of 105 patent technologies (54 domestic and 51 overseas) from Lotte Chemical, along with the entire business, including a factory located in the Daegu Water Cluster National Industrial Complex (site 32,259㎡, building 5,775㎡), technical personnel, and sales network, securing a strong position in the domestic water treatment field.
Additionally, on July 25, Synopex participated in a 10 billion won capital increase for Synopex Membrane to stabilize the business, expand production facilities, and invest in technology development for the growth of the water treatment business.
A Synopex representative stated, "With the acquisition of Chemicoa, a research and development (R&D) venture company spun off from Daelim Industrial in 2009, we secured the 'PAN UF' and gas separation membrane business," adding, "Subsequently, through strategic mergers and acquisitions (M&A), such as acquiring Taewoong Environmental Technology to secure engineering capabilities, acquiring W&Tech for advanced wastewater treatment technology, and acquiring LG Chem's G-Brain membrane business, we have secured core competencies in the water treatment field."
They further added, "With this acquisition of Lotte Chemical's water treatment business, we have completed a comprehensive solution in the water treatment industry."
Meanwhile, Synopex plans to grow as a leading company in the environmental, social, and governance (ESG) water treatment industry, based on its top-level membrane technology portfolio, which includes the submerged MBR membrane acquired from Lotte Chemical, the existing pressurized PVDF membrane, microfiltration (MF), ultrafiltration (UF), and nanofiltration (NF) technologies.

butter@fnnews.com Kang Kyung-rae Reporter