S.Korea’s SKC seeks to sell fine ceramic business for $307 mn
Ji-Eun Ha
Jul 10, 2023 (Gmt+09:00)
SKC Ltd., a South Korean chemicals maker, is seeking to sell its fine ceramic business for an estimated 400 billion won ($307 million) as the unit of the country’s second-largest conglomerate SK Group is restructuring its business to focus on new growth sectors such as materials for semiconductors and electric vehicle batteries.
SKC has selected Samil PricewaterhouseCoopers, the South Korean member firm of global accounting industry leader PwC, as its financial advisor to sell the fine ceramic division, a core business of its wholly owned subsidiary SK Enpulse Co., formerly SKC Solmics, according to investment banking industry sources on Monday.
SK Enpulse manufactures materials and parts including fine ceramics, chemical mechanical polishing pads, blank masks and other products for the entire semiconductor production process. Its fine ceramics division, which generates about 70% of the company’s total sales, makes consumable materials for semiconductor etching such as high-quality silicon, quartz and aluminum oxide.
TO DROP NON-CORE BUSINESSES
SKC was known to have decided on the sale as the division does not fit its new business focus.