Uni-Chem, a maker of leather goods in South Korea, plans to set up a solar cell factory in Oregon, reported the Associated Press.

The company has apparently signed a memorandum of understanding with Hynix Semiconductor to buy Hynix's memory chip factory in Eugene for $50 million. Hynix, also based in Korea, closed the ten-year-old factory in September 2008 and laid off more than 1,000 employees when the memory business wasn't faring well.

Uni-Chem is interested in branching out to new business. It currently sells leather to Hyundai Motor and Kia Motors. The company also counts Burberry and Coach as customers.

Uni-Chem Chairman Lee Ho-chan told the AP that the company bought a 51 percent stake in Spire Solar Systems back in August. Spire is a subsidiary of Spire Corp., which set up the company to provide power project design and management services this summer after its joint venture with Taiwan-based Gloria Solar was dissolved, according to Spire's recent quarterly filing with the U.S. Securities and Exchange Commission.

Spire Corp., based in Bedford, Mass., sells factory equipment for making solar panels. 

I can't find any Spire announcement about Uni-Chem, and have put in a call to Spire.