Trelleborg completes acquisition of Korean semiconductor seals manufacturer

Trelleborg, Sweden - Trelleborg Group has finalised the previously announced acquisition of MNE Group, a South Korean manufacturer of precision seals for semiconductor production equipment.

With headquarters and manufacturing facility in Yongin, just outside Seoul, MNE generated SEK300 million (€26 million) in revenue in 2023, Trelleborg announced 16 April.

Part of the Swedish group's strategy targetting the semiconductor industry, the acquisition was completed via its Trelleborg Sealing Solutions (TSS) business area.

The acquired business is primarily focused on the supply of speciality seals for both aftermarket and OE manufacturers of semiconductor production equipment.

Trelleborg announced the deal, valued at SEK650 million, in December last year.

At the time, it said the acquisition “established customer contacts with some of the world's largest semiconductor manufacturers in the largest local market for semiconductors globally.”

“With South Korea as a base, we plan to grow further in other Asian markets," said TSS president Peter Hahn, noting significant potential sales synergies for Trelleborg.

MNE’s “expertise and local capacity”, along with Trelleborg's technology, R&D, and global network should accelerate growth in the “rapidly expanding and profitable market segment," he added.

According to Trelleborg, semiconductor chips are manufactured in high-tech facilities with “extreme requirements for purity and plasma resistance”.

“Process tools and manufacturing equipment require special seals that offer outstanding performance in sealing these applications,” the group added.