LG Chem announced on Wednesday it has acquired US automotive sealants and adhesives manufacturer Uniseal, as the South Korean company continues to expand its presence in the global automotive industry.

LG Chem, a specialist in automotive lithium-ion batteries and LED screens, has sealed a deal to buy 100% of the Indiana-based company from parent Koch Enterprises for an undisclosed sum.

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Uniseal, established in 1960, produces a wide range of automotive body and chassis sealants, coatings and bonding agents for most global vehicle manufacturers. 

The company's coatings and adhesives applied to body and chassis parts provide light weight sound-proofing and anti-vibration and harshness measures.

Global demand for automotive adhesives is forecast to rise from US$4.5bn last year to $7.5bn in 2023, according to local reports in South Korea. 

LG Chem CEO Park Jin-soo said his company would "continue to invest in this segment to make it a global business".

LG Chem already produces thermoplastic resins for engineering plastics and adhesive tapes for electric vehicle batteries.

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