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September 28, 2009

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Uni-chem to buy US plant from Hynix

A SOUTH Korean company has reached an agreement with Hynix Semiconductor Inc to take over a plant that the world's second-largest memory chip maker closed in the United States, an official said over the weekend.

Uni-chem Co signed a memorandum of understanding in August to buy Hynix's memory chip plant and the accompanying land in Eugene, Oregon, for US$50 million, Uni-chem Chairman Lee Ho-chan said.

Lee said his company plans to use the plant to make solar cells as part of the company's new business.

Uni-chem provides leather to South Korea's Hyundai Motor Co and its affiliate Kia Motors Corp as well as to luxury goods companies Burberry and Coach, according to Lee.

But in August, Uni-chem acquired a 51 percent share of Spire Solar System, a subsidiary of solar power company Spire Corp, and set up Uni-chem Solar in the US state of New Hampshire, Lee said.

Lee said a full contract for the deal with Hynix could be signed next month.

Hynix spokesman Park Hyun said negotiations were under way but no specific details had been decided.

Hynix stopped operating the Oregon plant in September 2008 due to lack of profitability, Park said.

South Korea is a global leader in the semiconductor industry.



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