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Sumitomo Chemical raises stake in electronics-related jv with Samsung

4:02 AM MST | November 29, 2013 | Natasha Alperowicz

Sumitomo Chemical announced today that it is raising its stake in Samsung Sumitomo LED Materials (SSLM) from 50% to 80.1% for an undisclosed sum. The deal is expected to be finalized on 6 December. SSLM, established in 2011, is a producer of sapphire substrates for light-emitting diodes (LED). Sumitomo tells CW that the deal is part of the company’s plan to expand its IT and IT-related business. It did not disclose whether it wants to buy Samsung out from the jv altogether.   SSLM has sales of some 15 billion Korean won ($14.2 million) and employs 300...

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