Date: September 14th. 2020
Vital Materials Co., Limited today announced it has entered into a definitive agreement to acquire the ceramic target business division of Samsung Corning Advanced Glass, LLC ( “SCG”),a joint venture between Samsung Display and Corning Incorporated.
· Acquiring leading ITO solutions provider with highly complementary geographic, product and market mix
· Closing is expected soon after the corporate procedures for spinning-off the ceramic target business division from SCG is completed.
SCG’s ceramic target business, headquartered in Gumi, South Korea, is a leading ITO, IZO and IGZO supplier to the LCD and OLED display industry engaged in developing and manufacturing high-performance ceramic materials for emerging technologies.
SCG’s ceramic target business will become part of Vital Thin Film Materials business unit, one of four business units within Vital active in research, development, production, sales and recycling of sputter targets and evaporative materials for physical vapour deposition (PVD). “The synergies created by the acquisition will form a stronger and more reliable partner for new and existing customers around the globe” stated Olivier Bracher, Vice President of Vital Thin Film Materials.
Vital Thin Film Materials business unit product portfolio includes high purity metals, complex metal alloys, precious metals and ceramics for Display, Photovoltaic, Semiconductor, Optics, LED, Data Storage and Glass applications that aligns seamlessly with SCG’s ceramic target business
"We are very pleased to have executed a definitive agreement for the acquisition of SCG’s ceramic target business. The combination of the two companies will extend the market reach for all parties and opens new high-growth markets for the combined company. Vital will continue to grow and invest to extend downstream capabilities to support our customers with innovative solutions for today’s fast changing technologies” stated Olivier Bracher.
For any question please contact Olivier Bracher, VP Vital TFM
Vital Materials profile:
Established in 1995 and headquartered in
China, Vital Materials has vertically-integrated industrial and commercial
operations located in Asia, Europe, North and South America, with over 4,000
Vital Materials is a leading material technology company specialized in R&D, production, distribution and recycling of rare strategic metals and high-end products enable a broad range of existing and emerging applications. Vital is a world leader in the manufacturing of selenium, tellurium, gallium, indium, germanium, bismuth, and cadmium products, including III-V compound semiconductors, Thin-film targets and infrared lenses to support diverse applications including semiconductors, displays, electronics, photovoltaics, LED, infrared materials, acousto-optics, thermoelectrics, photosensors, radiation detectors, pharmaceuticals, feed additives, glass, ceramics, and metallurgy.
In Feb. 2020 Vital acquired more than 3’600t of indium at auction from the previous Fanya Metal Exchange that creating a reliable foundation for Vital’s ITO, IZO and IGZO business.