Specialty materials supplier Materion Corporation (NYSE:MTRN) announced on Thursday that it has entered into an agreement to acquire tantalum manufacturing assets in Dangjin City, South Korea, from Konasol, a supplier to the semiconductor and adjacent markets.

The acquisition includes a newly constructed, state-of-the-art facility equipped to produce fully finished tantalum sputtering targets. This move expands Materion's operational footprint into Asia, enabling closer proximity to semiconductor customers in the region.

According to Materion, the transaction enhances its capacity to supply high-growth deposition materials used in advanced semiconductor chips, including those for high-performance computing and artificial intelligence.

President and CEO Jugal Vijayvargiya stated that the deal reinforces the company's position as a global supplier of deposition materials while supporting Tier I semiconductor customers.

The transaction is subject to regulatory approval and is expected to close within 90 days.