Sumitomo Chemical buys in Taiwan

Sumitomo Chemical is to acquire Asia Union Electronic Chemical Corporation (AUECC), a Taiwanese producer of semiconductor process chemicals, subject to customary closing conditions, including regulatory approvals. Terms were not disclosed.

This will give Sumitomo its first manufacturing base in Kaohsiung, Taiwan, and a second in Nevada, complementing its existing site in Texas, which came onstream in 2022. The company has been seeking growth by acquisition and investment in anticipation of further sustained growth in demand, notably from AI and data centres, and aims to double its sales in this field from 2024 to 2030.