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Wacker Chemie AG's Siltronic acquires majority ownership of joint venture with Samsung Electronics Co Ltd in Singapore

Friday, 24 Jan 2014 06:04am EST 

Wacker Chemie AG:Says its 100-percent subsidiary, Siltronic AG, is taking over a majority stake in its Siltronic Samsung Wafer Pte. Ltd. joint venture.Says Siltronic and Samsung Electronics Co. Ltd. announced the signing of the relevant contracts on Jan. 24.Says so far, each company has held a 50-percent stake in the joint venture.Says Siltronic is to subscribe for new shares as part of a capital increase and it will own 78 percent of the joint venture.Says Samsung's stake will decrease to 22 percent as a result.Says joint venture will be renamed Siltronic Silicon Wafer Pte. Ltd.