Lotte Chemical CI

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Lotte Chemical announced on Friday that it agreed to sell its water treatment membrane business to Synopex Membrane as part of a broader effort to streamline its asset portfolio and restructure its business operations.

The divested unit includes a 5,775-square-meter membrane production plant located in the Korea Water Cluster in Daegu. The facility has produced and sold ultrafiltration (UF) membrane products for wastewater and drinking water treatment since its commercial launch in 2019.

Lotte Chemical and Synopex Membrane plan to finalize the transaction by July 2025 after completing necessary conditions. The sale price remains confidential under a nondisclosure agreement.

The company said the sale aligns with its strategy to concentrate resources on high-value specialty materials and new growth businesses. It also cited the deal as part of its ongoing efforts to enhance profitability and strengthen core competitiveness.

Lotte Chemical has raised about 1.7 trillion won ($1.25 billion) through recent asset-light initiatives. It secured 97.9 billion won by selling its 75.01 percent stake in LCPL, a Pakistan-based PTA business, in the first half of 2025 and raised 650 billion won using a 25 percent stake in its Indonesian unit LCI. It also sold a 4.9 percent stake in Japanese firm Resonac for 275 billion won.

It generated 660 billion won by leveraging its 40 percent stake in LCLA, a U.S.-based ethylene glycol producer, in 2024, as well as liquidating its Malaysian synthetic rubber unit LUSR.