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| May 25, 2000 |
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| Sale of Photo Resist Business |
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| Mitsubishi Chemical Corporation |
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Mitsubishi Chemical Corporation (Head Office:Marunouchi, Chiyoda-ku,
Tokyo, President:Kanji Shono) has concluded a definitive agreement with SHIPLEY
COMPANY L.L.C. (a Delaware Limited Liability Company, Head Office: Marlborough,
Massachusetts, U.S.A., CEO:Pierre R. Brondeau) on the sale of its photo resist
business.
Mitsubishi Chemical, since 1987, has been one of the leading companies in the
development and manufacturing of high resolution photoresist for ULSI. Further,
in order to meet the increasing market demand in Korea, it established Lithochem
Korea in 1998 (Head Office: Chonan, ROK, President:Yoshio Otami), as a joint venture
company with Sam Yang Corporation (Head Office:Seoul, ROK, President: Yoon Kim).
SHIPLEY, a wholly owned subsidiary of Rohm & Haas(Head Office :Philadelphia,
Pennsylvania, CEO: Raj L. Gupta), has been taking a premier position in the photoresist
business all over the world since 1963.
Mitsubishi Chemical, as a part of the "Selection & Concentration" strategies
under the Mid-term Plan adopted at the end of 1999, has decided the divestiture
of the photoresist business, which it believes will provide Shipley with a steady
resource and facilities in the rapidly expanding semiconductors market in Asia
for their future growth.
As the result of the sale, Shipley will acquire all the rights and interests in
the photoresist business of Mitsubishi Chemical, including the relationships with
customers and co-developers, intellectual properties, manufacturing, research
and development facilities located at the Kurosaki Plant in Japan and those of
Lithochem Korea located in ROK. The acquisition will be consummated by Shipley
through its wholly owned subsidiaries in Japan and ROK, respectively. Following
the required governmental procedures with authorities in Japan and Korea, the
transaction is expected to close before the end of June, 2000.
Information on Shipley
| 1. |
Name: |
Company L. L. C |
| 2. |
Head Office: |
Marlborough, Massachusetts, USA |
| 3. |
CEO: |
Pierre R. Brondeau |
| 4. |
Ownership: |
Rohm & Haas 100%u |
| 5. |
Employee: |
1,200 |
| 6. |
Sales: |
1billion US$ |
| 7. |
Business: |
Photoresists, ARCs, Developers, etc |
| For further information, please contact |
| Public Relations and Investor Relations Dept., |
| Mitsubishi Chemical Corporation |
| Tel: [+81]-(0)3-6414-3730 |
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