SK Materials to be merged with SK Corp
Special gas unit to be formed as new company
SK Materials will be merged with its holding company SK Corporation.
At the same time, its special gas business unit, which manufactures gas used in wafer fabrication, will be split off as a new company, SK Materials said on Friday.
The process will be completed by December 1. SK Materials’ shares will stop trading on exchanges from November 29 to December 24 from the move.
SK Corporation and SK Materials said the merger will allow SK Corporation to use its funds to accelerate advanced material businesses.
The newly formed special gas company will continue to offer NF3, WF6 and SiH4 as well as other gases.
It will aim to meet the requirements of semiconductor companies to grow sustained growth, SK Materials.
The company is planning to invest 850 billion won by 2022 to build a new silicon anode factory.
It is planning to spend an additional 200 billion by June next year to build a material factory for chips and displays.
During the third quarter, SK Materials recorded 307 billion won in revenue and 82.7 billion won in operating profit, an increase of 24.6% and 32.3%, respectively, from a year ago.