ULVAC to Fold China FPD Target Business into New Joint Venture

ULVAC ( (JP:6728) ) just unveiled an update.

ULVAC has approved a business integration of its flat panel display sputtering target operations in China with Beijing-based investment funds Fengke Xinchuang, Xinchuang Phase II, and Chinese materials maker Konfoong Materials International (KFMI). The partners will consolidate their FPD target businesses into a new joint venture, Beijing Fengke Jingsheng Electronic Materials, in which Fengke Xinchuang will be the controlling shareholder.

As part of the integration, ULVAC will transfer all its equity in its consolidated subsidiary ULVAC Materials (Suzhou) to the joint venture and then reinvest in the new entity. The structure is intended to pool management resources, accelerate decision-making in the competitive Chinese market, and improve business stability and medium- to long-term profitability for ULVAC’s FPD materials operations.

The most recent analyst rating on (JP:6728) stock is a Buy with a Yen11500.00 price target. To see the full list of analyst forecasts on ULVAC stock, see the JP:6728 Stock Forecast page.

More about ULVAC

ULVAC, Inc. is a Japanese manufacturer specializing in vacuum technologies and equipment, with a strong presence in materials and components for flat panel displays and semiconductors. The company focuses on supplying sputtering targets and related electronic materials to display and chipmakers, with a particular emphasis on the Chinese market through local subsidiaries and partnerships.

Average Trading Volume: 353,008

Technical Sentiment Signal: Buy

Current Market Cap: Yen522B

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