SKC sells thin-film business for about 1 billion yen, focuses on core business = Korea

SK Nexilis, a subsidiary of South Korean chemical materials giant SKC, has acquired a thin-film business supplying flexible copper-clad laminate (FCCL) materials for displays for 95 billion won (approximately 1,049.85 million yen).
) to Affirma Capital, a private equity fund management company. The two companies have signed a business transfer agreement regarding the same.
The necessary procedures are expected to be completed in February 2025. Affirma Capital has strengths in the business of acquiring non-core businesses of large companies, raising their corporate value and carving them out.
Therefore, even after this business transfer, SKC intends to strengthen the competitiveness of its thin-film business through additional investment. Prior to this, SKC had prioritized improving its financial situation and was appropriately liquidating its non-core businesses.
Through this, the company has secured over 1 trillion won (approximately 110.564 billion yen) in cash, reducing the burden on investment. Based on its strengthened financial position, the company is planning to acquire Absolute, a US subsidiary that develops circuit boards.
The company is accelerating the restructuring of its high-value-added products business, including glass substrates for semiconductors. The glass substrate business is aiming for mass production in 2025, and is considering expanding its semiconductor testing business, which it acquired in June, by acquiring ISC.
The company plans to use the proceeds from the transfer of its thin-film business as a source of funding to strengthen its core business, an SKC official said.