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Toppan completes acquisition of DuPont Photomasks

Posted: 26 Apr 2005 ?? ?Print Version ?Bookmark and Share

Keywords:dupont photomasks? semiconductor?

Toppan Printing Co. has completed the roughly $650 million acquisition of DuPont Photomasks Inc.

Effective immediately, Toppan said, the two companies will combine their photomask businesses, with DuPont Photomasks becoming a wholly owned subsidiary of Toppan known as Toppan Photomasks Inc. The company will remain headquartered in Round Rock, Texas.

Akihiro Nagata, a senior managing director of Toppan and head of Toppan's Electronics division, has assumed the chairmanship of the Toppan Photomasks board of directors. Marshall Turner remains CEO of the company.

Under the terms of the agreement, originally announced in October 2004, DuPont Photomasks shareholders will receive $27 per share in cash, Toppan said. The acquisition was approved by shareholders of DuPont Photomasks on March 28.

Earlier this week, EE Times reported that the U.S. Department of Justice had approved the acquisition by Toppan, clearing the final remaining hurdle to the deal's consummation.

"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," Nagata said in a statement issued by Toppan Friday (April 22).

- EE Times

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