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Photronics & Dai Nippon Printing's JV is now live
Imaging technology solutionsprovider, Photronics, says that the company has successfully closed the previously announced JV agreement with Dai Nippon Printing Co., Ltd., (DNP) focused on serving semiconductor manufacturers in China.
"We are pleased to have finalized this agreement and look forward to expanding our successful three-year partnership with DNP into mainland China," said Peter Kirlin, Photronics chief executive officer. "Many thanks to the entire team in Taiwan, Japan, and the US to quickly close this transaction. With the agreement now officially established, we can jointly focus on meeting our customers' needs and more effectively competing together for the growing semiconductor photomask market in China."
A subsidiary of DNP acquired 49.99% of Photronics' wholly foreign owned entity in Xiamen, China, with Photronics maintaining an ownership of 50.01%. The joint venture's results will be included in the consolidated financial statements of Photronics. The joint venture, called Photronics DNP Mask Corporation Xiamen was formed on January 5, 2018.
