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MIDLAND, US/TOKYO, JAPAN: Dow Corning Corp will pay $240 million to buy Mitsubishi Materials Corp’s stakes in two solar polysilicon manufacturing joint ventures that are part of the Hemlock Semiconductor group. Dow Corning acquires Mitsubishi’s 12.5 per cent stake in Hemlock Semiconductor LLC, giving it complete ownership of the venture.
Mitsubishi is exiting Hemlock, a group of joint ventures also partly owned by Tokyo-based Shin-Etsu Handotai Co. Dow Corning said bigger stakes in the ventures, which make the main raw material used in the manufacture of solar panels, will help it generate additional earnings and cash flow.
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