SAFC Hitech Ltd., a wholly-owned
subsidiary of Sigma-Aldrich Corporation SIAL, a leading Life Science
and High Technology company, has signed an agreement to create a 50/50 joint
venture (JV) with Korean-based Soulbrain Co. Ltd. ("Soulbrain"). Soulbrain
is a publicly traded (KOSDAQ: 036830) 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.
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. Soulbrain will contribute certain electronic
material product know-how, intellectual property (IP), and development
personnel to the venture. SAFC Hitech Ltd. 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
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.
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