JUPITER, Fla., Mar. 16 -- Photronics Inc. plans to acquire a majority share of Precision Semiconductor Mask Corp. (PSMC) of Taiwan. In conjunction with certain of its principal shareholders, PSMC has agreed to sell at least 51 percent of its equity in the form of currently outstanding or newly issued shares in transactions totaling approximately $50 million. Photronics has already acquired about 32 percent of the currently outstanding shares of PSMC. Additional financial details were not disclosed.
Constantine Deno Macricostas, Photronics' chairman, stated, Establishing a strategic manufacturing location in Taiwan has been a high priority. PSMC's competitive position and visibility within Taiwan's semiconductor manufacturing community is truly unique and is what makes this transaction work for our customers, and for our shareholders.