Applied Films Corporation Announces Sale of Its Thin Films Coatings Division
LONGMONT, Colo. and HOLLAND, Mich., Sept. 24 /PRNewswire-FirstCall/ -- Applied Films Corporation (Nasdaq: AFCO - News), and Information Products, Inc. (IP) today jointly announced that IP has purchased the Longmont Thin Film Coatings Division of Applied Films. Information Products, Inc. is a wholly owned subsidiary of Donnelly Corporation.
"The sale of our Thin Films Coatings Division in Longmont reflects our previously stated strategy of focusing on our core business of building thin film deposition equipment," said Tom Edman, president and chief executive officer of Applied Films Corporation.
The business will be operated by a new company named Information Products Longmont, Inc., a wholly owned subsidiary of IP, leasing approximately 40,000 sq. ft. from Applied Films at their existing location in Longmont.
"This acquisition will allow Information Products to maintain its global leadership in the touchscreen arena," said Chad Quist, president of Information Products. "The coatings division is an excellent strategic fit and will be a complement to Information Products, expanding our coating capabilities in the MicroDisplay and touchscreen markets."
This transaction does not affect Applied Films' ownership position in its joint venture in China which coats black and white TN and STN, and color STN glass used in LCD's for the cell phone, PDA and portable devices markets.
About Applied Films Corporation
Applied Films Corporation is a leading provider of thin film deposition equipment to the flat panel display, the architectural, automotive and solar glass, and the consumer products packaging and electronics industries. Applied Films has also developed a barrier coating solution technology for the plastic beverage bottle industry. The deposition systems are used to deposit thin films that enhance the characteristics of a base substrate, such as glass, plastic, paper or foil. These thin films provide conductive, electronic, reflective, filter, barrier, and other properties that are critical elements of our customers' products. Applied Films also produces coated glass both directly and through a joint venture. Founded in 1976, the Company currently has approximately 510 employees world wide with its headquarters in Longmont, Colorado, and operations in Alzenau, Germany; Brussels, Belgium; Hong Kong and Shanghai, China; Seoul, Korea; Tokyo and Osaka, Japan; and Hsinchu, Taiwan. For more information, please visit Applied Films' web site at appliedfilms.com .
About Information Products, Inc.
Information Products, Inc., a wholly owned subsidiary of Donnelly Corporation (NYSE: DON - News), which has entered into a merger agreement under which the company will become a wholly owned subsidiary of Magna International Inc. upon consummation of the transaction. Information Products' technological innovations focus on developing touch screens that are lighter, brighter and longer lasting -- the characteristics that end users require. The company offers anti-glare and anti-reflective coatings, multiple substrate offerings, precision patterning and fabrication and conductive thin film coatings to fit any display, and provides direct sales support in the United States, Japan, Taiwan, Hong Kong, and China. Learn more at www.infoproductsinc.com .
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Source: Applied Films Corporation; Information Products, Inc. |
