SAFC, Soulbrain JV organic precursor technologies in Korean market

SAFC, Soulbrain JV for organic precursor technologies in Korean market

7:39 AM, 24th December 2012
SAFC, Soulbrain JV for organic precursor technologies in Korean market

ST LOUIS, US: SAFC Hitech Ltd, a wholly-owned subsidiary of Sigma-Aldrich Corporation, has signed an agreement to create a 50/50 joint venture (JV) with Korean-based Soulbrain Co Ltd, a publicly traded specialty chemical company serving the flat panel display, semiconductor and electronic materials market. The joint venture, known as Soulbrain Sigma-Aldrich Ltd, is subject to customary closing conditions and is expected to be finalized early in the first quarter of 2013.

Soulbrain will contribute certain electronic material product know-how, intellectual property (IP), and development personnel to the venture. SAFC Hitech will contribute related manufacturing and product know-how and IP for metal organic compounds used to manufacture semiconductors and will license its technology to the joint venture for products used to manufacture light emitting diodes (LED).

The newly formed JV will serve the Korean market and will focus on developing and commercializing advanced metal organic precursor technologies used in the semiconductor and LED markets. The combination is expected to leverage the strong market position and customer intimacy of Soulbrain, and utilize SAFC Hitech’s precursor technologies to better serve Korean customers.

“We continue to grow our presence in the Asia Pacific region, where the majority of electronic products are manufactured today. The creation of this joint venture enables us to extend our capabilities in the region and gain greater customer access through Soulbrain’s established technical competencies, infrastructure and customer relationships. We are pleased to partner with Soulbrain to bring new advances to the semiconductor and LED markets,” said Rakesh Sachdev, President and CEO, Sigma-Aldrich Corporation.

© WOC News

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