Union Carbide to Sell Polysilicon Plants

A subsidiary of Union Carbide Corp. said it has signed a letter of intent to sell its polysilicon manufacturing facilities at two Washington state sites to a Japanese company.

The price was not disclosed on the agreement between Union Carbide Chemicals & Plastics Co. and Komatsu Electronic Metals Co. for the sale of the two sites in Moses Lake and Washougal.

Both companies said the transaction would help ensure the continued operation of the polysilicon business and preserve about 270 jobs. Sales in 1988 totaled about $35 million, Union Carbide said.

The transaction, which is subject to reviews by the U.S. and Japanese governments, is expected to result in a modest after-tax gain for Union Carbide.