Samsung Forms Carbon Fiber Joint Venture with SGL
Samsung and SGL Group have combined forces to create a new joint venture that focuses on carbon fiber composite materials. The joint venture, which is 50% owned by each company, will be called Samsung SGL Carbon Composite Materials. The goal of the joint venture is to provide Samsung with a steady supply of carbon fiber that Samsung can use in its various products, including consumer electronics. The companies expect the transaction to be completed by the middle of July, pending regulatory approval, and it will commence operation immediately thereafter. Samsung did not specify exactly which product lines will begin to use carbon fiber, but some of Samsung's competitors, such as Motorola, have used carbon fiber in their smartphone designs for years.
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