Showa Denka has agreed to sign an agreement with Aica Kogyo for the transfer of SDK’s phenolic resins business. As per the deal, SDL will form a separate company in May 2015 and will transfer its 85 % of Phenolic resins business to this new company. Now SDK will transfer 85% of its share of new company to Aica Kogyo by September 2015. Remaining 15% of its share will be transferred in next two years.
