Hyundai Department Store Group Acquires Hanwha L&C

Company Announces Corporate Name and Ownership Change

ATLANTA, GA - DECEMBER 3, 2018 - Hyundai Department Store Group, a major South Korean conglomerate that operates a range of retail, manufacturing and service-based businesses, announced today that it has completed the acquisition of Hanwha L&C, a leading manufacturer of premium building materials. As part of the acquisition, the company has also changed its name to Hyundai L&C to further position itself as a global leader in the interior products industry. Under this new ownership, Hyundai L&C remains firmly committed to maintaining and growing its premium surfacing brands, HanStone Quartz and Hanex Solid Surfaces.

Hyundai Department Store Group considers business consistency to be the top priority. To that end, the company decided to change the corporate name as minimally as possible, keeping “L&C” from the former name, which now stands for “Living and Culture”. This reflects the company's strong commitment towards becoming a total living interior cultural company that provides meaningful value to lives and spaces. Moving forward as Hyundai L&C, the company will aim to retain and maximize its value through innovation and a strong focus on customers and their needs.

“This is a great development for our company,” commented JK Lee, CEO of Hyundai L&C USA LLC. “We are excited to be a part of the Hyundai family and the significant resources and support this brings, all of which enables us to provide even more value to our customers.”

Hanwha L&C’s previous ownership under Morgan Stanley resulted in significant expansion, including a second HanStone Quartz production line in London, Ontario, the building of a new Hanex Solid Surfaces production facility in Temple, Texas (to be operational in the coming months), and the establishment of several service centers, warehouses and showrooms across the country. This new ownership by Hyundai Department Store Group, a $20 billion company, offers unparalleled financial stability and the ability to expand like never before to meet customers’ growing requirements for premium surfacing.

HanStone Quartz. Driven by the desire to make products that enhance life’s journey, HanStone Quartz recognizes that surfacing is just one component of a successful project - a beautiful space that creates the backdrop for what really matters - wonderful moments that make up happy and productive lives.

With state-of-the-art North American manufacturing facilities, HanStone offers design flexibility to make any vision a reality. Having unequaled consistency of color, texture, and quality along with six times the strength and durability of granite surfaces, HanStone Quartz can more than handle the challenges of everyday life. To learn more about HanStone Quartz please visit www.hanstonequartz.com. 

Hanex Solid Surfaces. Hanex continually pushes the boundaries of what is possible in order to meet the demands of today’s diverse applications in homes, schools, healthcare facilities and businesses. Hanex’s goal is to enrich the lives of the people who encounter these spaces by understanding what really matters beyond aesthetics alone.

With an exclusive manufacturing process using high-tech equipment and materials, Hanex Solid Surfaces' next-generation products are meticulously crafted to withstand even the most rigorous treatment. Making it the ideal material for residential and commercial applications. To learn more about Hanex Solid Surfaces please visit www.hanexsolidsurfaces.com.

ABOUT HYUNDAI L&C USA, LLC
Hyundai L&C (Living & Culture) USA, based in Atlanta, GA, sells and markets high-quality surfacing products under HanStone Quartz and Hanex Solid Surfaces brand names. HanStone Quartz is the company’s flagship product that led to the opening of a state-of-the-art 200,000 square foot manufacturing facility in London, Ontario, Canada. Hyundai L&C USA is the North American subsidiary of Hyundai Department Store Group, a South Korea based corporation. To learn more, visit www.hyundailncusa.com.