SKC sells fine ceramics business to Hahn & Co.

[Courtesy of SKC]

SKC Co., a materials unit of South Korea’s SK Group, announced Tuesday that it will transfer the fine ceramics business of its subsidiary SK enpulse Co. to Korean private equity firm Hahn & Co.

SK enpulse held a board meeting on Monday and decided to transfer its fine ceramics business to Hahn & Co. for 360 billion won ($267.12 million).

Following the decision, SK enpulse and Hahn & Co. signed a business transfer agreement.

SK enpulse plans to finalize the deal in January next year after completing follow-up procedures next month, such as convening an extraordinary general meeting of shareholders.

Fine ceramics contain high-purity inorganic compounds and thus have higher electrical properties and durability than existing ceramic materials.

SKC has been speeding up its efforts to focus on high-value-added new businesses for semiconductors, such as by investing in Chipletz, a U.S. fabless substrate vendor developing advanced packaging technology, and acquiring ISC Co., a semiconductor test solution provider.

“We plan to use the proceeds from the sale to make our semiconductor material and components business more competitive,” the company said.