Trelleborg has, through its business area Trelleborg Sealing Solutions, signed an agreement to acquire MNE Group, consisting of the companies Materials Nano Engineering and Materials Nano Solution. The acquisition strategically enhances Trelleborg Sealing Solutions’ semiconductor capabilities since MNE Group is the leading South Korean manufacturer of precision semiconductor seals.
The transaction - for approximately 650 million SEK on a cash and debt-free basis - is expected to be completed in the first quarter of 2024. It will provide Trelleborg Sealing Solutions with established customer contacts with some of the most significant manufacturers in one of the largest local semiconductor markets globally.
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Chris Busby, Semiconductor Segment Director, says: “This significant acquisition provides Trelleborg Sealing Solutions with a strong and well-established base in South Korea which will substantially support our growth into the critical Asian markets in semiconductors.
“Achieving this regional presence creates significant potential for future sales synergies in Trelleborg’s priority semiconductor markets. Our technology, R&D, and global network, combined with MNE Group's expertise and local capacity, will drive growth in this rapidly expanding and profitable market segment.”
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MNE Group of South Korea is primarily focused on manufacturing high-performance specialty seals for both aftermarket and original equipment manufacturers (OEMs) of semiconductor equipment. Its headquarters and manufacturing facility are located in Yongin, close to the capital Seoul. MNE Group is expected to generate approximately 300 million SEK in revenue in 2023 with an EBITA margin in line with the Trelleborg Sealing Solutions business area.
Trelleborg Sealing Solutions is a key supplier of polymer technologies that meet the challenges of the semiconductor industry, providing aftermarket and OEM customers with sealing capabilities and products for today’s increasingly extreme fab and sub-fab environments. It offers decades of engineering and applications experience, as well as the latest knowledge in the design of high-precision, customized sealing solutions for critical semiconductor applications with extreme requirements for purity and plasma resistance.
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