NANX news:
Friday January 2, 6:58 am Eastern Time
Company Press Release
ChemFirst Inc. Forms Strategic Alliance with Baikowski Chimie S.A. and Acquires CMP Assets From Baikowski And From Moyco Technologies, Inc.
JACKSON, Miss.--(BUSINESS WIRE)--Jan. 2, 1998--ChemFirst Inc. (NYSE: CEM - news) announces the acquisition through its wholly owned subsidiary EKC Technology, Inc. of chemical mechanical planarization (CMP) assets for semiconductor production from Baikowski Chimie, a subsidiary of Groupe PSB Industries, S.A., (French Compeant Exchange) and from Moyco Technologies, Inc. (NASDAQ: MOYC - news).
EKC, a global market leader of advanced cleaners for semiconductor production and a supplier of post-CMP cleaners, will develop, produce and market slurries and ancillary products for the CMP market. CMP is a key enabling technology in the manufacture of semiconductors with sub-0.35 micron feature size and high circuit density. The process involves mechanical polishing of silicon wafers using a slurry of abrasives and chemicals to produce a flatter surface for shorter wave length lithography.
''These technologies and products complement and enhance our current electronic and performance chemicals business, and give ChemFirst a leading position in CMP, a small but rapidly growing market,'' said J. Kelley Williams, ChemFirst's chairman and chief executive officer. ''The additional investment in semiconductor CMP research and development activities initially will be slightly dilutive to earnings. However, we expect this investment to create additional growth in revenues and earnings longer term and to help maintain our leading position in electronic chemicals.''
The transaction with Baikowski involves the acquisition by EKC of Baikowski's semiconductor CMP business, including technology, customers, slurry manufacturing equipment and an applications laboratory, and a supply agreement for proprietary powders used in the production of CMP slurries. In addition, EKC and Baikowski have formed a strategic alliance that utilizes Baikowski's broad expertise in the development and production of precision polishing materials to conduct future research for new CMP applications. EKC and Baikowski each will acquire a minor interest in the other and each will hold a seat on the other's board of directors.
Under the transaction with Moyco, EKC will receive Moyco's CMP technologies, products, customer positions and slurry manufacturing equipment, and will assume Moyco's supply agreement with Nanophase Technologies Corp. (NASDAQ: NANX - news) for unique, patented nanometer-sized particles used in the production of CMP slurries. In addition, EKC and Nanophase have entered into a technical support agreement for CMP applications.
ChemFirst Inc. companies produce electronic and performance chemicals, specialty chemicals and chemical intermediates for industry and agriculture, and provide engineered products and services to chemical and other industries. ChemFirst's wholly owned subsidiary EKC Technology, Inc. is the world leader in the manufacture, service and distribution of advanced wafer cleaning chemicals used to support the manufacture of advanced microprocessors, memory devices and flat panel displays.
Baikowski Chimie is the world's leading supplier of fine and pure alumina powders and has built a strong position in the lighting industry. It also has a global reputation for designing fine inorganic materials for advanced technology markets, including leading edge semiconductor applications.
Moyco Technologies, Inc. manufactures precision abrasives and professional dental supplies.
Nanophase Technologies Corporation is the world's leader in the production and marketing of nanocrystalline materials for a wide range of critical commercial applications.
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Contact:
ChemFirst Inc., Jackson
Jim McArthur, Secretary, Manager, Investor Relations
601/948-7550
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