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Wonik Deal to Purchase SEMES LCD Equipment Business Cancelled
Wonik IPS said that signed on August 31 to buy Semes’ display equipment business has been canceled and the companies were no longer in talks. The company said Semes, a subsidiary of Samsung Electronics, called off the talks as the contract didn’t meet its demand of transferring existing employees. The pair signed a binding MOU on August 31 to handover its technology, sales right and personnel related to photo and wet equipment including photoresist appliers, coaters, etchers, strippers and various cleaners. The failed talks were Semes’ second attempt to sell its display unit. In 2019, the company met with multiple potential buyers to sell the unit, except its inkjet business. KC Tech showed strong interest, hoping to resume its dealings with Samsung Display, but their talks failed. Another production equipment maker, founded by an ex-Semes executive, also held talks with Semes but their discussions also foundered. Semes’ main customer Samsung Display is planning to exit the LCD business and it no longer needs the display unit except for inkjet printers used in OLED production. Semes was hoping to offload LCD-related equipment businesses and focus on IJPs for color filters, OLED patterning, and OLED encapsulation.
Wonik IPS said that signed on August 31 to buy Semes’ display equipment business has been canceled and the companies were no longer in talks. The company said Semes, a subsidiary of Samsung Electronics, called off the talks as the contract didn’t meet its demand of transferring existing employees. The pair signed a binding MOU on August 31 to handover its technology, sales right and personnel related to photo and wet equipment including photoresist appliers, coaters, etchers, strippers and various cleaners. The failed talks were Semes’ second attempt to sell its display unit. In 2019, the company met with multiple potential buyers to sell the unit, except its inkjet business. KC Tech showed strong interest, hoping to resume its dealings with Samsung Display, but their talks failed. Another production equipment maker, founded by an ex-Semes executive, also held talks with Semes but their discussions also foundered. Semes’ main customer Samsung Display is planning to exit the LCD business and it no longer needs the display unit except for inkjet printers used in OLED production. Semes was hoping to offload LCD-related equipment businesses and focus on IJPs for color filters, OLED patterning, and OLED encapsulation.
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