GlobalWafers to acquire Topsil’s silicon activities

GlobalWafers Co., Ltd. (“GlobalWafers”), a Taiwanese company listed on Taipei Exchange, and Topsil Semiconductor Materials A/S (“Topsil”), a Danish company listed on Nasdaq Copenhagen, have entered into an agreement under which GlobalWafers will acquire the silicon (FZ and CZ) activities of Topsil for DKK 320m in cash. The acquisition is subject to approval from Topsil’s shareholders at an extraordinary general meeting, which will be held on 17 June 2016, and approval from the investment committees under MOEA in Taiwan. The transaction is expected to be completed early July 2016.

Topsil has an industry leading portfolio of 3”–8” Float Zone and Czochralski/EPI silicon wafers manufactured at Topsil’s state-of-the-art production plant in Denmark and in Poland, as well as a global presence with local sales representation in China, Denmark, India, Japan, Poland and the US. Topsil’s silicon activities generated approximately DKK 270m in revenue in 2015. Its Float Zone wafers are used for a wide variety of high and medium power applications with growth supported by positive worldwide macro trends within infrastructure and energy. The acquisition by GlobalWafers will further strengthen Topsil’s worldwide distribution platform, especially in the rapidly growing markets in China, Japan and Taiwan. Topsil’s unique technological capabilities combined with GlobalWafers’ local industry connection network and very outstanding wafering operation will significantly accelerate Topsil’s development.

The acquisition is in line with GlobalWafers’ strategy to expand its operation into Float Zone wafers and consolidate its global position within the silicon wafer industry. Completion of the transaction will enable GlobalWafers to realize significant synergies and get access to state-of-the-art Float Zone know-how and Topsil’s well-established, long-term customer and supplier relationships.

Doris Hsu, chairman and CEO of GlobalWafers, said: “Topsil is one of the best FZ companies in the industry. SAS and GWC have been working with Topsil very closely for almost 20 years. Today, we are very pleased to be further strengthening our relationship with Topsil via this acquisition. With the excellent technical and management team of both companies, it will significantly create Synergistic Value to be one of the best semiconductor wafer suppliers in the industry and providing total solution and maintaining positive growth of the companies together with our customers and partners in the world.”

Kalle Hvidt Nielsen, CEO of Topsil, further commented: “Topsil’s management fully supports the transaction. All of our employees have worked very hard to build Topsil’s position in an extremely difficult market, and we are pleased to see GlobalWafers recognising the value of our business and our highly skilled employees. Together we can strengthen our position in the global semiconductor market and create a strong supplier for our customers. I am confident that Topsil’s employees can look forward to a positive and exciting future.”

About Topsil Semiconductor Materials A/S
Topsil is a world leading supplier of ultra pure silicon to the global semiconductor industry, founded 1959.

Topsil provides tailor-made silicon wafers to enable customers manufacture energy efficient electronic components. The components are used e.g. for energy transmission in wind turbines, frequency converters in motors, and electricity generation in high speed trains.

Customers include large semiconductor companies as well as research institutions worldwide. End products are applied especially in the transport, energy and the industrial sectors.

About GlobalWafers Co., Ltd.
GlobalWafers is one of the top 6 silicon wafer manufacturers in the world. Founded 1981, it was the semiconductor business unit of SAS (Sino-American Silicon Product Inc.) and spun off as GlobalWafers Co., Ltd. in 2011.

Specializing in 3” to 12” silicon wafer manufacturing, GlobalWafers possesses a complete production line from ingot growth, slicing, etching, diffusion, polishing and epitaxy that accomplish its high value products such as annealed wafers, EPI wafers, polished wafers, etched wafers, ultra thin wafers and deep diffusion wafers.

Product applications extend through power management, automotive, IT and MEMS. With integration through strategy alliance and investment in Taiwan, USA, China and Japan, GlobalWafers aggressively yet steadily expands business spectrum and market share aiming at the leading position in global semiconductor Si wafer industry.

GlobalWafers Co., Ltd.
Spokesman: William Chen
TEL: 886-3-577-2255 ext 2280
Deputy: Jason Chien
TEL: 886-3-577-2255 ext 2379
www.sas-globalwafers.com

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