Fuji Photo to buy Arch Chemical’s microelectronics operations

October 26, 2004 – Arch Chemicals Inc. has signed a definitive agreement to sell the majority of the operations of its Microelectronic Materials business to Fuji Photo Film Co. Ltd. for about $160 million, according to various news reports.

Arch Chemical said the transaction includes its microelectronics manufacturing facilities and R&D facilities located in North America, Europe and Asia, and its 49% ownership of Fujifilm Arch Co. Ltd., the company’s joint venture with Fuji Photo Film in Japan.

These facilities make photoresists, formulated products, polyimides and thin film systems for semiconductor manufacturers and to flat panel display manufacturers. The microelectronic businesses to be sold had sales of about $135 million in 2003. The estimated proceeds from the divestiture will be principally used to pay down debt. The boards of both companies have approved the agreement.

Arch will retain its 50% interest in Planar Solutions LLC, the company’s joint venture with Wacker Chemical Corp. for the production of CMP slurries, the microelectronics-dedicated manufacturing facility in Brandenburg, KY, and the chemical management services, or CMS, business.


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