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Article: Texas Instruments and Toppan Printing to form jointly owned photomask operation. (includes background information)
- Article from:
- PR Newswire
- Article date:
- December 18, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TI AND TOPPAN TO FORM JOINTLY OWNED PHOTOMASK OPERATION
DALLAS, Dec. 18 /PRNewswire/ -- Texas Instruments Incorporated today said it has signed a letter of intent with Toppan Printing Company, Ltd. to establish a jointly owned U.S. company that would acquire and manage TI's internal photomask operation in Dallas. TI would receive a cash payment of $19 million and would have a minority interest in the new company. The parties are working to complete a definitive agreement by March 30, 1990, and TI would expect to report a pre-tax gain in the range of $13 to $15 million in the quarter in which the agreement is reached.
The new company will employ ...