Swedish industrial group Atlas Copco said Thursday it will acquire a 70% stake in Shanghai Shareway Environment Technology to form a joint venture, deepening its investment in China's semiconductor supply chain.
The deal is the company's second in the sector this week, following the announced acquisition of Chinese abatement firm New Star Technology on Wednesday.
Shareway Environmental Technology makes equipment to treat waste gases from semiconductor and solar panel manufacturing and had revenues of about 630 million Chinese Yuan in 2024, according to Atlas Copco.
The Shanghai-based firm has 320 employees and will be managed as an independent entity, with minority shareholders retaining a 30% stake.
The purchase price was not disclosed.
“With this partnership we will further strengthen our abatement portfolio and related services for the semiconductor and solar panel customers in China”, said Koen Lauwers, Business Area President for Atlas Copco's Vacuum Technique.
The transaction is expected to close in the third quarter, with Shareway becoming part of the Semiconductor division within the Vacuum Technique Business Area.
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