FRANKFURT Jan 24 German speciality chemicals
maker Wacker Chemie will take control of a wafer joint
venture it holds with South Korea's Samsung Electronics
, it said on Friday.
Wacker Chemie's Siltronic unit, which produces silicon
wafers for the chip industry, will increase its stake in
Siltronic Samsung Wafer Pte Ltd to 78 percent from 50 percent.
Partner Samsung Electronics will hold the remaining stake
and remain a customer of Siltronic, Wacker Chemie said.
As part of the deal, Siltronic will invest a total of 150
million euros ($205 million) to participate in a capital
increase and repay part of the joint venture's outstanding
project loans, which stand at about 210 million euros.
"The transaction gives us majority ownership of one of the
most modern, efficient and profitable production sites for 300
mm wafers in Asia," said Wacker Chemie Chief Financial Officer
The joint venture, formed in 2006, comprises production
facilities for wafer and silicon ingots in Singapore, and will
be renamed as Siltronic Silicon Wafer Pte Ltd.
Siltronic accounted for about 17 percent of Wacker Chemie's
sales and 3 percent of its earnings before interest, tax,
depreciation and amortisation in the first nine months of 2013.
Wacker Chemie is also the world's second-largest maker of
polysilicon, a key material needed to make solar cells.
($1 = 0.7310 euros)
(Reporting by Christoph Steitz; Editing by Mark Potter)