Vital Materials to acquire ceramic target business of Samsung Corning Advanced Glass

China-based minor metals producer Vital Materials has agreed to acquire the ceramic target business division of Samsung Corning Advanced Glass (SCG) - a joint venture between Samsung Display and Corning Incorporated - Vital told Fastmarkets on September 15.

SCG's ceramic target business - in Gumi, South Korea - is an indium tin oxide, (ITO), indium zinc oxide (IZO) and indium gallium zinc oxide (IGZO) supplier to the liquid-crystal display (LCD) and organic light emitting diode (OLED) display industry, which develops and manufactures high-performance glass substrates and sputtering - depositing metals on ultra-thin surfaces - targets.
Vital's chief investment officer Sean Fuller told Fastmarkets he expects the deal to close in the coming weeks, while the final price of the deal has not yet been disclosed.

"Samsung Corning Advanced Glass has developed an excellent operation...which we look forward to integrating into our footprint including [research and development], operations...

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