Wonik IPS “Not meeting detailed conditions such as manpower transfer”
Failed to sell successively following SEMES and KC Tech
The plan that Samsung Electronics subsidiary SEMES decided to sell some display equipment business to Wonik IPS for 82 billion won has been canceled.
On the 19th, Wonik IPS announced that “the MOU signed with SEMES on August 31 of last year was canceled and the transaction was suspended.” Wonik IPS explained, “We have been reviewing the transfer of some display business at SEMES, but on the 19th, the seller (SEMES) has requested to stop the sale negotiations because the detailed conditions (transfer of personnel) accompanying the transfer of the business were not met.
Earlier, on August 31 of last year, Wonik IPS said, “We are reviewing the transfer of sales in some business divisions of SEMES to strengthen the competitiveness of the display business.” It has been disclosed.
Since then, the two sides have discussed the sale of photo and wet equipment technology, goodwill, and manpower among the SEMES display division. SEMES’ display photo-wet equipment includes photoresist (PR) coating, a coater in charge of development, an etcher in charge of etching, a stripper in a peeling process, and various cleaning equipment. The amount of transfer was 82 billion won.
However, half a year later, the two sides could not reach a conclusion. It is known that the employees in the display division of SEMES strongly opposed the move to Wonik IPS due to complaints about treatment, etc.
After KC Tech, the transfer of business to SEMES was canceled once again. Since early 2019, SEMES has met with several companies to sell its display equipment business, excluding inkjet equipment. KC Tech, which had been in constant contact with SEMES, looked forward to resumption of supply with Samsung Display and reviewed the transfer, but was canceled because the acquisition conditions such as price did not match. It is known that Semes also discussed with a small and medium-sized equipment company founded by Semes. Likewise, the sale was canceled due to disagreements such as price.
As Samsung Display stopped its large-sized liquid crystal display (LCD) business, SEMES eliminated the need for equipment other than inkjet. The share of display equipment in the total sales of SEMES is also on the decline. SEMES planned to organize most of the display equipment groups and leave only high-value-added businesses such as the inkjet printing equipment business that can be used for color filter (CF) and organic light-emitting diode (OLED) pattern formation and encapsulation processes.
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