Hanwha Solutions Establishes 'Hanwha Advanced Materials' by Spinning Off Lightweight Composite and Solar Materials Divisions

[Asia Economy Reporter Oh Su-yeon] Hanwha Solutions announced on the 23rd that it will establish Hanwha Advanced Materials Co., Ltd. (tentative name) by simply and physically splitting its lightweight composite materials business division and solar materials business division.

The company stated the purpose of the split as "to strengthen the expertise and business control of each business division, enable independent decision-making for the split business divisions, thereby improving management efficiency. Ultimately, it aims to enhance the corporate value and shareholder value of both the split company and the newly established company."

The split date is set for December 1.