SK Group’s semiconductor component maker, SK Siltron, has acquired a wafer division from US chemical giant Dupont as the South Korean company aims to raise its profile in the global semiconductor component market.

According to SK Siltron on Tuesday, the company’s board of directors agreed to purchase Dupont’s silicon carbide wafer business unit for $450 million. The acquisition is expected to be finalized by year-end after the necessary government approvals are obtained. 

Describing the purchase as part of its efforts to increase global investment in the semiconductor component business, SK Siltron said it sought to boost productivity by combining its existing strengths with Dupont’s advanced technologies and manufacturing capabilities.