Photronics Invests More in PKL

BROOKFIELD, Conn., Dec. 22 -- Photronics Inc., a manufacturer of photomasks, said it has acquired an additional 5.5 percent interest in PKL Co. Ltd., an independent photomask manufacturer in Korea, from an existing PKL shareholder for approximately $12 million in cash.

Photronics now owns approximately 80 percent of PKL. Additional terms of the transaction were not disclosed. Constantine Macricostas, chairman and CEO of Photronics, said in a statment, "The Asian market continues to be one of critical strategic importance to Photronics. Our increased equity investment in PKL enables Photronics to further consolidate its leadership with the Asia region’s most influential customers, while also maximizing returns for the company’s shareholders worldwide."

Photomasks are high-precision quartz plates that contain microscopic images of electronic circuits. A key element in the manufacture of semiconductors, photomasks are used to transfer circuit patterns onto semiconductor wafers during the fabrication of integrated circuits. They are produced in accordance with circuit designs provided by customers at manufacturing facilities in Asia, Europe and North America.

For more information, visit: www.photronics.com