DuPont Photomasks Inc., Round Rock, TX, and Schott Lithotec AG, Jena, Germany, have announced that Schott Lithotec USA Corp., has acquired DuPont Photomasks’ photoblank business unit in a deal worth up to $42 million.
Additionally, DuPont Photomasks entered into a long-term supply agreement with Schott, to provide continued reliable access to commercial photoblanks. The companies also formed a strategic alliance to jointly develop advanced photoblanks, which are the substrates from which photomasks are fabricated.
Schott Lithotec has agreed to pay DuPont Photomasks $28 million in cash and $2 million in Schott Lithotec AG stock. Schott Lithotec AG has also agreed to pay DuPont Photomasks up to $12 million in stock over the next two years, subject to achieving certain milestones. All of the shares issued to DuPont Photomasks are subject to guarantee of minimum value.
The agreement includes Schott Lithotec’s acquisition of DuPont Photomasks’ photoblank production facility located in Poughkeepsie, NY. Schott Lithotec will offer all of the approximately 80 employees of the Poughkeepsie facility a position within its organization.
Peter Kirlin, chairman and chief executive officer of DuPont Photomasks, said, “While further strengthening our balance sheet, this arrangement allows each party to do what it does best. We will focus on delivering microimaging solutions to our customers through our core business of photomasks, while Schott Lithotec will apply its exceptional optical capabilities to the manufacture of photoblanks at the Poughkeepsie facility.”
Schott Lithotec AG currently operates a photoblank production facility in Meiningen, Germany. The photoblank operation was recently upgraded to include technologies required to produce advanced photoblanks supporting 193-nm and 157-nm lithography. Expanding production in the United States enables Schott Lithotec to become one of the largest suppliers of photoblanks in the world. The company also has a leading position in technology, quality and production of calcium fluoride crystals, the key material for the production of 193-nm and 157-nm photolithography systems. Additionally the company operates a quartz glass production plant in Jena, Germany.