Toppan Printing Successfully Completes Acquisition of DuPont Photomasks; Creating The World's Premier Photomask Business.TOKYO & ROUND ROCK, Texas -- Toppan Printing Co., Ltd. ("Toppan") (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :7911) today announced it has successfully completed the acquisition of DuPont Photomasks, Inc. ("DuPont Photomasks") (Nasdaq:DPMI (DOS Protected Mode Interface) A Microsoft programming interface that allowed a DOS-extended program to run cooperatively under Windows 3.x. It was not compatible with VCPI, the first DOS extender standard. ). Under the terms of the definitive agreement previously announced on Oct. 5, 2004, DuPont Photomasks shareholders will receive US$27.00 in cash per share. The equity value of the transaction is approximately US$650 million (approximately 68 Yen billion) on a diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis. The acquisition was approved by shareholders of DuPont Photomasks on March 28, 2005. Effective immediately, DuPont Photomasks becomes a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Toppan, named Toppan Photomasks, Inc. The company will continue to be incorporated in Delaware Delaware, state, United States Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). and remain headquartered in Round Rock. Toppan will combine its existing photomask An opaque image on a translucent plate that is used as a light filter to transfer an image from one device to another. See chip. business with that of Toppan Photomasks. Together, the combined businesses will form the world's largest and premier manufacturer of photomasks, a critical component in the manufacture of semiconductors. Akihiro Nagata, a senior managing director of Toppan and head of Toppan's Electronics Division, has become chairman of the Toppan Photomasks board of directors. Marshall Turner continues as chief executive officer. Akihiro Nagata, chairman of Toppan Photomasks, said, "Toppan has positioned its photomask business as a key engine for future growth. Through this acquisition, Toppan has moved to meet an evolving need among semiconductor manufacturers for comprehensive photomask product supply based on an advanced technology development capability, through a global network. The combination of Toppan Photomasks with Toppan's existing photomask business will create the world's premier photomask manufacturer, and will bring about significant synergies, providing enhanced access to customer business and increased cost efficiencies. We believe this transaction will not only benefit customers but will also contribute to the overall development of the semiconductor industry." Marshall Turner, president and chief executive officer of Toppan Photomasks, said, "The combination of Toppan and DuPont Photomasks creates the world's first truly global photomask supplier. We are excited to offer customers access to the most advanced and geographically distributed network of photomask manufacturing locations across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Japan and Asia. We will not take our leadership position lightly. Together, we will continue to innovate in·no·vate v. in·no·vat·ed, in·no·vat·ing, in·no·vates v.tr. To begin or introduce (something new) for or as if for the first time. v.intr. To begin or introduce something new. , providing the semiconductor industry with unique and comprehensive solutions to the challenges of today, and for many years to come." About Toppan Photomasks Toppan Photomasks was formed in 2005, when Toppan Printing Co., Ltd. acquired DuPont Photomasks, Inc. The combination of Toppan Photomasks with the photomask business of Toppan Printing forms the world's premier photomask provider. Based in Round Rock, Texas, Toppan Photomasks offers a comprehensive range of photomask technologies, and research and development capabilities, as well as the most advanced and largest network of manufacturing facilities in the industry. Strategically located manufacturing facilities are operated in Japan, China, Korea, Singapore, Taiwan, United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Germany and France. Toppan Photomasks is a wholly owned subsidiary of Toppan Printing. For more information visit www.photomask.com. About Toppan Printing Founded in 1900, Toppan Printing has branched into eight diverse business fields including security cards, commercial printing, publications printing, e-business, packaging, decorative materials, electronics and optronics Optronics, or optoelectronics in its less abbreviated form, is the science and technology making use of optics and electronics. It is sometimes synonymous with photonics, however the latter has a lesser emphasis on electronics. . In the fiscal year ended March 31, 2004, Toppan posted revenues of 1,297.4 Yen billion (approximately US$11.8 billion) and ended the year with approximately 32,000 employees. For more information visit www.toppan.co.jp. |
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