Grand Pacific Acquires Stakes in Taiwan Semiconductor Specialty Materials Firms; Shares Up 10%

MT Newswires Live08-26 12:45

Grand Pacific Petrochemical (TPE:1312) has tied up with Japanese industrial gas manufacturer Air Water Inc to foray into Taiwan's semiconductor specialty materials market, according to a Tuesday statement.

Grand Pacific shares jumped nearly 10% in Wednesday's trade.

The two companies will collaborate to take up a 35% stake in specialty gas maker Hong-Kuang Hi-Tech Corp. for an undisclosed amount.

Hong-Kuang Hi-Tech supplies specialty gases and chemicals in Taiwan's semiconductor supply chain, with local capabilities in the production, sales, and analysis of high-purity electronic-grade specialty gases, as well as related technical support.

Grand Pacific has also acquired a 23.4% equity stake in Taiwan's i-TRANS Express, which provides specialty chemicals used in the wafer manufacturing supply chain and provides logistics services covering transportation, warehousing, transshipment, and distribution.

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