Doosan acquires 70.6% stake in SK Siltron
South Korean conglomerate Doosan has signed a share purchase agreement to acquire a 70.6% stake in SK Siltron from SK Group for KRW 2.3 trillion, equivalent to approximately USD 1.7 billion. The deal was approved by Doosan's board on July 31.
SK Siltron, founded in 1983, is South Korea's only semiconductor wafer manufacturer and one of five companies that together account for more than 90% of the global silicon wafer market. The company manufactures 300 mm and 200 mm silicon wafers for semiconductor applications. SK Siltron recorded approximately KRW 2 trillion in sales and more than KRW 400 billion in operating profit last year, according to a press release from Doosan.
Doosan expects the wafer business to grow at an average annual rate of around 7% and has set a sales target of approximately KRW 3 trillion for Siltron by 2031.
“Through this acquisition agreement, Doosan has secured a future growth engine and established a foundation for sustainable earnings. Siltron will not be listed, and we will focus further on enhancing shareholder value at Doosan based on a stable business portfolio,” Doosan wrote in the press release.
