March 19, 2003 – Marlborough, MA – Shipley Co. L.L.C., a subsidiary of Rohm and Haas, has sold its dry film photoresist business that is used in printed wiring boards (PWB) to Eternal Chemical Co., Taiwan.

Shipley will close its North American and European PWB dry film photoresist manufacturing operations. Eternal will manufacture its newly expanded dry film photoresist product line under the Eternal company label. Shipley will distribute the entire Eternal dry film photoresist product line in North America and Europe as well as to Shipley’s existing customers in Asia.

“This decision was a very difficult one for the company, however this will allow us to better serve the PWB market,” said Carol Eicher, VP and GM of Americas and Europe Shipley PWB business. “A careful analysis of the North American and European dry film photoresist business drove us to the realization that we needed to look for a new model. As a consequence of this transaction, we will close our operations in Moss Point, MS, Spartanburg, SC, and Warrington, United Kingdom.” The transaction will affect approximately 140 employees.

Shipley believes its North American and European dry film manufacturing operations will be phased out by the end of the year. While specific details of the agreement were not disclosed, the company said that the transaction is not financially material and will have minimal near-term impact on PWB sales and profitability. The sale of the dry film photoresist business is aimed at improving future operating earnings for the PWB business.