Tokyo Electron : Announcement on Merger of Consolidated Subsidiaries
September 20, 2019 at 05:52 am EDT
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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.
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Disclaimer
TEL - Tokyo Electron Ltd. published this content on 20 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2019 09:51:06 UTC
Tokyo Electron Ltd specializes in the design, manufacturing and marketing of production of semiconductors and flat screens equipments. Net sales break down by family of products as follows:
- production of semiconductors equipments (94%);
- production of flat screens equipments (6%). The group is also providing manufacturing of photovoltaic panels equipments.
Net sales break down geographically as follows: Japan (14.1%), China (28.5%), South Korea (20.4%), Taiwan (17.9%), North America (10.9%), Europe (4.5%) and other (3.7%).
TOKYO ELECTRON LTD. 
