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Photronics acquires controlling stake in PKL

Posted: 12 Apr 2002 ?? ?Print Version ?Bookmark and Share

Keywords:PKL? wafer? semiconductor?

Photronics Inc. has acquired an additional 28 percent stake in South Korea-based photomask manufacturer PKL Co. Ltd. The company now owns a 78.8 percent share in PKL.

According to Photronics, the transaction is not expected to make a significant impact on the company's efforts to meets targets for the fiscal second quarter, which ends on April 30, 2002.

Dan Del Rosario, CEO of Photronics, stated, "Our increased equity investment in PKL is consistent with our strategic plan for Asia when we acquired a controlling interest in PKL in August, 2001. We continue to consolidate our position in strategic markets within Asia. We have been focusing on PKL's integration into both our regional and global manufacturing network. This process will now be accelerated, as we look to improve the return on the assets that we have invested in, while also seeking to extend our service and technology positions with an increasing number of semiconductor manufacturers utilizing wafer foundries throughout Asia to produce their latest devices."

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