Photronics acquires majority equity stake in PKL C.., Ltd.

Aug. 31, 2001
Aug. 31, 2001--Photronics, Inc., a sub-wavelength reticle solutions supplier, announced it has acquired a controlling equity interest in PKL Co., Ltd., a supplier of photomasks in Korea.

Photronics, Inc. (Nasdaq: PLAB), a sub-wavelength reticle solutions supplier, announced it has acquired a controlling equity interest in PKL Co., Ltd. (PKL), a supplier of photomasks in Korea. The additional equity is being acquired through negotiated transactions with several large shareholders, and will bring its total ownership of the company to approximately 51 percent and its total investment in PKL to $50 million.

In the future, the Company may acquire up to an additional one million PKL shares held by such shareholders, subject to certain conditions contained in agreements with such selling shareholders. As a result of a previous tender offer for 300,000 shares, Photronics had increased its ownership in PKL to 34 percent in July. PKL (Kosdaq: PKL) reported sales of 53 billion Korean Won (approximately $40 million) in its most recent fiscal year, which represented a 52 percent year-over-year increase. Additional financial terms were not disclosed.

On August 29, 2001, Photronics and Conexant Systems, Inc. (Nasdaq: CNXT) jointly announced that the two companies signed a multi-year supply agreement and entered into a strategic technology alliance, as well as separately announcing that Photronics would purchase manufacturing assets relating to Conexant's photomask operations.

About Photronics:

Photronics is a manufacturer of photomasks. For more information, visit www.photronics.com.

Sponsored Recommendations

The Journey to 1.6 Terabit Ethernet

May 16, 2024
Embark on a journey into the future of connectivity as IEEE P802.3dj Task Force leaders unveil the groundbreaking strides towards 1.6 Terabit Ethernet, revolutionizing the landscape...

Coherent Routing and Optical Transport – Getting Under the Covers

April 11, 2024
Join us as we delve into the symbiotic relationship between IPoDWDM and cutting-edge optical transport innovations, revolutionizing the landscape of data transmission.

Data Center Network Advances

April 2, 2024
Lightwave’s latest on-topic eBook, which AFL and Henkel sponsor, will address advances in data center technology. The eBook looks at various topics, ranging...

Supporting 5G with Fiber

April 12, 2023
Network operators continue their 5G coverage expansion – which means they also continue to roll out fiber to support such initiatives. The articles in this Lightwave On ...