On April 1, 2009, Korean chemical company DC Chemical Co., Ltd. changed its name to OCI Company Ltd., part of a change in its corporate identity and strategic direction, particularly its increasing focus on polysilicon production. In January 2009, DC Chemical announced it was selling its two-thirds stake in Columbian Chemicals Company, though the company continues to produce carbon black through two Korean factories.
According to a company press release, the company’s new name “OCI” means “The Origin of Chemical Innovation,” and another purpose for the name change is to obviate any misperception regarding OCI’s core businesses that may have been caused by its previous name, which in Korean contained the words “steel” and “chemical.” Further, the goal is to eliminate any confusion that may have arisen due to the use of different corporate names domestically and abroad.
Here is the press release.
Oriental Chemical Industries was formed in 1959 and over the ensuing 50 years grew into a global producer of inorganic chemicals, coal chemicals, petrochemicals, fine chemicals, and most recently polysilicon. In 2001, OCI merged with Korea Steel Chemical and changed its name to DC Chemical.
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