SEOUL, Nov. 24 (Korea Bizwire) – SK Corp., the holding firm of South Korea’s No. 3 conglomerate, said Tuesday that it has decided to take over a local manufacturer of special gases used in chipmaking, LCD and solar panels, as part of an effort to bolster its semiconductor material business.
SK will buy a 49.1 percent stake in OCI Materials Co. for 482 billion won (US$416 million), which translates into 93,000 won per share, the company said in a regulatory filing.
OCI, a solar panel maker, has been seeking to sell OCI Materials since May this year as it struggled with a protracted slump in the solar power industry.
SK Group has SK hynix Inc., a global chipmaker, under its wing.
OCI Materials logged 241 billion won in sales in the first nine months of the year and reported 76.6 billion won in operating income.