DuPont Electronics & Imagingsigned an agreement to sell its Compound Semiconductor Solutions business to SK Siltron, a silicon wafer supplier to the semiconductor market, based in South Korea.
The sales price was listed at $450 million.
The transaction is expected to close by the end of 2019, subject to customary regulatory approvals for closing. Financial terms were not immediately disclosed
The transaction is part of DuPont’s strategy to align the company’s portfolio with high return opportunities. Further asset sales are expected within the vast array of DuPont businesses.
“The DuPont CSS business has state-of-the-art technologies for SiC wafer production to serve the power electronics market, but it is not a strategic priority for the E&I business,” said Jon Kemp, president, DuPont Electronics & Imaging. “Given its strategic focus, we believe SK Siltron will be a better owner and that the CSS business will thrive under SK Siltron’s ownership.”
DuPont Electronics & Imaging is a global supplier of materials and technologies serving the semiconductor, advanced chip packaging, circuit board, electronic and industrial finishing, display, and digital and flexographic printing industries.