Feb 16 2011
Samsung Fine Chemicals (SFC) and MEMC Electronic Materials, Inc. (NYSE: WFR) announced today a joint venture agreement between SFC and MEMC's affiliate, MEMC Singapore, to produce high purity polysilicon in Ulsan, Korea.
Through a 50/50 capital investment, the joint venture will build and operate a new facility on an existing SFC property in Ulsan. The facility, which is expected to begin production in 2013, will have an initial capacity of 10,000 metric tons (MT) of polysilicon annually, and have the potential to expand to satisfy rapidly growing demand over time.
The collaboration seeks to provide polysilicon to support growth initiatives as well as minimize business risk by ensuring cost and quality competitiveness through the combination of MEMC and SFC's advanced technology and processing infrastructure. SFC's core competence is in chlorination processes and high purity purification technology. MEMC is a world leader in semiconductor and solar technology, with over 50 years of expertise in polysilicon and wafers.
Commenting on the agreement, Hyun-min Hong, Executive Director of SFC's Strategic Planning Division, said, "This joint venture signals SFC's entry into the fast moving renewable energy market and establishes a new engine for long-term growth."
Ken Hannah, President of MEMC Solar Materials, added, "We are very excited about bringing MEMC's polysilicon technology to Korea. This partnership supports MEMC's internal growth commitments, and gives us yet another tool to support our customers in the region with some of the best products and services in the industry."