Mergers & acquisitions
PVA TePla in Germany has signed an asset deal to acquire the Floatzone Equipment business unit from Haldor Topsoe based in Denmark. The seller is withdrawing from floatzone activities in order to concentrate on its core business. PVA TePla estimates that 5-10% of silicon crystals produced worldwide for power electronics applications are made with the floatzone (Fz) process that results in very high purities.
Fz crystals are primarily suitable for use in high-performance electronic components, such as thyristors and diodes. Silicon Fz is also becoming increasingly widespread in high-performance solar cells because, says PVA TePla, despite their relatively high price, they achieve by far the best levels of efficiency.
Singapore's Exchange Securities Trading organisation (SGX-ST) has given in-principle approval for the listing and quotation of ST Assembly Test Services (STATS) shares to be issued in connection with the previously announced merger between a subsidiary of STATS and ChipPAC (Bulletin 523, March 24, 2004; Bulletin 517, February 13, 2004). Completion of the merger is subject to approval of the shareholders of both STATS and ChipPAC, receipt of a ruling from US tax authorities relating to the tax treatment of the merger for ChipPAC stockholders and other customary closing conditions. STATS and ChipPAC expect the closing of the merger to be scheduled for July 2004.