Hitachi, Ltd. (NYSE:HIT) and Shin-Etsu Chemical Co., Ltd. today announced that they
have reached an agreement under which Hitachi will transfer its semiconductor silicon
crystal operations to Shin-Etsu Chemical, effective April 1, 1999. In line with the
agreement, Hitachi will transfer all of its crystal operations to Shin-Etsu Chemical,
including the manufacture and sale of semiconductor silicon single-crystal and wafers,
thus consolidating related management resources in the semiconductor devices business.
The purchase of Hitachi's crystal operations will further expand and strengthen Shin-
Etsu Chemical's wafer operations.
Hitachi is currently responding to changes in the semiconductor business by the
implementation of restructuring moves that involve the reorganization and consolidation
of manufacturing bases in order to increase efficiency and speed up operations.
As part of this, Hitachi will stop wafer production at the Kofu Operation, and at the
Yanai Works and Kofu Silicon Crystal Manufacturing Division of Hitachi Tokyo
Electronics Co., Ltd., a Hitachi subsidiary, and transfer these operations to Shin-Etsu
Chemical.
This transfer of operations will be accompanied by transferring employees of Hitachi's
Kofu Operation Silicon Crystal Development Division to Shin-Etsu Chemical group on
April 1, 1999.
Production operations at the Silicon Crystal Manufacturing Division of the Yanai Works
of Hitachi Tokyo Electronics will be stopped and consolidated with Shin-Etsu Handotai's
existing production facilities. Some 100 employees will be moved to Shin-Etsu Chemical
group. Production operations at the Kofu Silicon Crystal Manufacturing Division of
Hitachi Tokyo Electronics will be consolidated with Shin-Etsu Handotai after three years
and the employees concerned will be transferred to Shin-Etsu Chemical group.
Outline of Hitachi Tokyo Electronics Co., Ltd.
(1) Location: 3-3-2, Fujihashi, Ome-shi, Tokyo
(2) Founded: May 21, 1963
(3) Employees: Approximately 1,900
(4) Capital: 600 million yen (100% owned by Hitachi)
(5) Business: Manufacture of semiconductor devices, semiconductor
equipment and silicon wafers
(6) President: Yoshihito Shirai
Outline of Hitachi, Ltd. (Consolidated base)
(1) Location: 6, Kanda-Surugadai 4-chome, Chiyoda-ku, Tokyo
(2) Founded: February 1, 1910
(3) Employees: 333,941 (as of September 30, 1998)
(4) Capital: 3,085,260 million yen (as of September 30, 1998)
(5) Business: Sale and manufacture of computers, semiconductors, consumer
products and power and industrial equipment
(6) President: Tsutomu Kanai
Outline of Shin-Etsu Chemical Co., Ltd.
(1) Location: 6-1, Otemachi 2-chome, Chiyoda-ku, Tokyo
(2) Founded: September 16, 1926
(3) Employees: Approximately 3,300
(4) Capital: 85,602 million yen
(5) Business: Sale and manufacture of synthetic resin, organic and
inorganic chemicals, electronics materials and functional materials
(6) President: Chihiro Kanagawa
Outline of Shin-Etsu Handotai Co., Ltd.
(1) Location: Togin Bldg., 4-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo
(2) Founded: March 1, 1967
(3) Employees: Approximately 2,000
(4) Capital: 10,000 million yen (100% owned by Shin-Etsu Chemical)
(5) Business: Sale and manufacture of semiconductor silicon
(6) President: Tadashi Wada
|
