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SK to restructure chip processing and distribution arm?
SK Group is rumoured to be planning an internal reorganisation that will merge SK Inc's semiconductor processing and distribution company, Essencore, with its industrial gas company, SK materials airplus.
According to various industry sources, the group's investment arm SK Inc wants to bring the two subsidiaries into the unit run by its SK ecoplant environment-focused division. The reports say SK Group needs to bolster SK ecoplant's financial structure in preparation of its planned IPO.
Essencore is the chip processing arm of SK Group. It receives DRAM supplies from SK hynix and processes them into products such as SD cards and USB drives for distribution. It reported an operating profit of USD 43 million last year. Meanwhile SK materials airplus produces industrial gases used in semiconductor manufacturing and supplies them to memory foundries.
SK Eco Plant will hold a board meeting today to discuss the strategy.
