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SK enpulse sells chip processing business to focus on value-added areas

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SK enpulse sells chip business to focus on value-added areas [SK ENPULSE]
SK enpulse sells chip business to focus on value-added areas [SK ENPULSE]

SK enpulse is selling off its Chinese chip business dedicated to the pre-production stage as the company wants to streamline its business structure to focus on value-added areas.

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SK enpulse, a chip material subsidiary wholly owned by SKC, said Monday it will sell off 75 percent of its wet chemical business to Chinese chip and display materials company Jiangsu Yoke Semiconductor Materials, and 90 percent of its wafer-cleaning business to Shenyang Yichuang Precision Technology, an investment company.

The sell-off price for both deals is approximately 88 billion won ($66.2 million), according to SK enpulse.

The decision was agreed upon at the SK enpulse board meeting Tuesday.

“We made the bold decision to sell existing businesses in order to concentrate on the value-added material and components business that are necessary for the future chip industry,” SK enpulse said in a release.

“We plan to continue such steps that innovate business models.”

SK enpulse owner SKC is expanding its footprint in the chip industry, revamping its business structure.

Last year, it sold off one of its oldest businesses — industrial film manufacturing — to domestic private equity firm Hahn & Company at 1.6 trillion won.

It acquired a 45 percent stake in ISC, a manufacturer of semiconductor test equipments.

Recently, it purchased 12 percent of chip packaging firm Chipletz, participating in its Series B funding.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]