fbpx

Announcement on Merger of Consolidated Subsidiaries

Tokyo Electron (TEL) announces that it has decided to merge its two subsidiaries, TEL FSI, Inc. and TEL Epion Inc. which are subsidiaries of our US subsidiary, Tokyo Electron U.S. Holdings, Inc.

1. Objective of the Merger
To optimize manufacturing functions in the U.S. region and improve operational efficiency.

2. Outline of the Merger
(1) Merger schedule
Date of the merger (effective date): January 1, 2020 (Tentative)
(2) Merger method
The Merger will be an absorption-type merger between TEL FSI, Inc. as the surviving company and TEL Epion Inc. as the absorbed company.

3. Overview of the Parties to the Merger

Surviving Company Absorbed Company
(1) Company Name TEL FSI, Inc. TEL Epion Inc.
(2) Address Chaska, MN, U.S.A. Billerica, MA, U.S.A.
(3) Representative Toshihiko Nishigaki, Chairman&President Michael Graf, President
(4) Business Activities Development, manufacturing and sales of surface preparation system Development, manufacturing and sales of gas cluster ion beam (GCIB) technology for diverse semiconductor applications and emerging nanotechnology markets
(5) Capital Stock 100 U.S. dollars 1 U.S. dollar
(6) Start of Business October, 2012 December, 2006
(7) End of Fiscal Year March 31 March 31
(8) Major Shareholders and Shareholding Ratio Tokyo Electron U.S. Holdings, Inc.
100%
Tokyo Electron U.S. Holdings, Inc.
100%

4. Status of Surviving Company following the Merger

(1) Company Name TEL Manufacturing and Engineering of America, Inc.
(2) Address Chaska, MN, U.S.A.
(3) Representative Nathan Baxter, President
(4) Business Activities Development, manufacturing and sales of surface preparation system, gas cluster ion beam (GCIB) technology for diverse semiconductor applications and emerging nanotechnology markets
(5) Capital Stock 100 U.S. dollars
(6) End of Fiscal Year March 31

5. Future Outlook
Since the Merger is between two wholly-owned subsidiaries of TEL, the impact on the consolidated business results of Tokyo Electron Ltd. will be minor.

leverton

Content is the most important part of having quality links to your website. With Area-Info.net, we provide a quality location to share your story and include links to your website to help you grow. If you would like to learn more, visit this page to see how you can use Area-Info.net to rank higher and quicker in search engines. Contact me directly at [email protected] with any questions, or to schedule speaking engagements.

You May Also Like