Mitsubishi Materials, a minority shareholder in polysilicon producer, Hemlock Semiconductor has sold its stake in the company to Dow Corning for US$240 million.
The sale of Mitsubishi Materials 12.25% share means that Dow Corning is the sole owner of Hemlock Semiconductor, LLC and 80.5% majority shareholder of Hemlock Semiconductor Corporation.
“Dow Corning founded Hemlock Semiconductor more than 50 years ago with the foresight that polysilicon technology would be a revolutionary material in the electronics and energy industries,” said Robert D. Hansen, Dow Corning’s chairman, CEO and president. “Hemlock Semiconductor is an important and strategic contributor to Dow Corning’s financial performance, with an industry leading team, technology and strategy that have enabled the company to remain strong despite the volatility in the polysilicon industry.”
Shin-Etsu Handotai was said to remain as a minority shareholder of Hemlock Semiconductor Corporation and Hemlock Semiconductor PTE. Ltd.