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Ulvac Approves Unit Demerger for Planned Flat Panel Display Business Integration in China

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Ulvac (TYO:6728) board approved an incorporation-type demerger of its consolidated subsidiary as part of a planned integration of its flat panel display target materials business with a joint venture in China, according to a Tokyo bourse filing on Tuesday.

The vacuum technology company said that the target business is currently held by its South Korea-based consolidated subsidiary, Pure Surface Technology, and the split will be conducted as a "human demerger."

The demerger, subject to conditions, is scheduled to be effective Aug. 11, and the target business will be transferred to a newly established company.

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