DuPont to sell semiconductor business for $450 million
DuPont Electronics & Imaging (E&I) has signed an agreement to sell its Compound Semiconductor Solutions (CSS) business, which makes materials for electric motors.
The $450 million sale to SK Siltron, based in South Korea, is expected to close by the end of 2019, subject to customary regulatory approvals for closing.
The transaction follows a series of spin-offs by DuPont over the last few years, including popular brands Teflon and Pioneer.
“The DuPont CSS business has state-of-the-art technologies for SiC wafer production to serve the power electronics market, but it is not a strategic priority for the E&I business,” said Jon Kemp, president of DuPont Electronics & Imaging. “Given its strategic focus, we believe SK Siltron will be a better owner and that the CSS business will thrive under SK Siltron’s ownership.”