LG Innotek and LG Micron are merging.
On April 2, the two companies’ boards approved the terms of the merger, which will take place on July 1, 2009 with a share ratio between LG Innotek and LG Micron of 0.4716786.

Following the merger, the combined company will boast a turnover of 3 trillion won and will be a major integrated components maker.

The company will cover the entire spectrum of the materials business in its product line and will be the leading player in its field.

The merged entity will be a stronger international player and set the direction of the international market with strengthened and more durable levels of sales and profitability.

According to an LG Innotek spokesperson, “LG Innotek and LG Micron’s merger will create a potential leading global components company with strengthened competitiveness and enhanced long-term value building capacities for customers, shareholders, and society.

The merger will allow the foundations to be laid for a more durable growth and profitability.”