South Korean company Uni-chem Co. has signed a deal with Hynix Semiconductor Inc., to take over its memory chip plant in Eugene, Oregon, US.

Hynix, the world's second-largest memory chip maker, closed its Eugene plant in September 2008, reportedly due to a lack of profitability.

According to Business Week, Uni-chem has signed a memorandum of understanding to buy the chip plant and surrounding land.

The company plans to use the plant to make solar cells, trading under the name Uni-chem Solar, which was set up after Uni-chem acquired a 51% share of Spire Solar System, a subsidiary of Spire Corporation.

A full contract with Hynix is expected to be signed next month.