US Chip Equipment Giant Will Invest in Korean Glass Substrate Manufacturers

   On January 2, Applied Materials (AMAT), the largest chip equipment manufacturer in the United States, will participate in the capital increase of Absolics, a chip glass substrate manufacturer owned by SKC, a Korean chemical materials company. According to the news released by the Korean Financial Supervisory Institute on the 2nd, SKC recently announced that Absolics had decided to raise 165.9 billion won (about 904.2 million yuan) for the construction of equipment. Absolics will issue 130,000 new shares, and SKC and AMAT will participate in the capital increase, increasing their holdings by 90,000 shares and 40,000 shares respectively, with an investment of 114.8 billion won and 51 billion won respectively. SKC said that Absolics would invest the funds raised through the capital increase in the construction of chip glass substrate factories in the United States. Absolics is building a chip glass substrate plant in Covington, Georgia, USA.