Hsinchu, Taiwan — February 6, 2022 — GlobalWafers Co., Ltd. (6488.TWO) (“GlobalWafers”) today announced investment plans after its voluntary all-cash tender offer for the outstanding ordinary shares of Siltronic AG (“Siltronic”) failed to reach all completion conditions, in particular all regulatory approvals, by the final deadline of January 31, 2022. The proceeds originally intended for the acquisition are now earmarked for capital and operating expenses. GlobalWafers foresees total capital expenditures of New Taiwan dollar (NTD) 100 billion (approx. USD 3.6 billion) from 2022 to 2024, including substantial greenfield investments.
Doris Hsu, Chairperson and CEO of GlobalWafers, commented: “While the failed completion of our offer for Siltronic is disappointing we have pursued a dual-track strategy from the very beginning of the tender offer. I am very excited that we can consider now a broad range of options to advance technology development and enhance our capacities.”
GlobalWafers now considers a number of brown- and greenfield capacity expansion plans, including 300mm wafer and Epitaxial wafer (EPI), 200mm and 300mm Silicon on Insulator wafers (SOI), 200mm Float-Zone wafers (FZ), Silicon carbide (SiC) wafers (including SiC Epi), Gallium Nitride on Silicon wafers (GaN on Si) and other large-size next-generation products. The expansion plan includes investments across Asia, Europe and the United States of up to NTD 100 billion spanning both brownfield and greenfield projects. The new production lines are expected to ramp up in the second half of 2023 and to be expanded on a quarterly basis.
GlobalWafers shall focus on strengthening its growth by building new production lines, which specialize in next-generation products for advanced processes targeting large-size wafers and compound semiconductors. Wafers for advanced processes will play a larger role in the product spectrum of GlobalWafers, thus further optimizing its product mix. GlobalWafers will be ahead of its peers for mass production of new products in order to capture timely the new business opportunities from innovative end applications, enhance its first mover advantage, increase revenue scale and expand business territory for the benefits of its customers and shareholders.
Contacts
| GlobalWafers | ||||
| Spokesperson: William Chen |
+886 3 577 2255 (ext. 2280) | |||
Important notice:
This announcement is neither an offer to purchase nor a solicitation of an offer to sell Siltronic Shares. Moreover, this announcement is neither an offer to sell nor a solicitation of an offer to purchase shares in GlobalWafers Co., Ltd.
The release, publication or distribution of this announcement in certain jurisdictions other than the Federal Republic of Germany may be restricted by law. Persons who are resident in, or are subject to, other jurisdictions should inform themselves of, and observe, any applicable requirements.
The Takeover Offer was made in the United States of America in reliance on, and compliance with, Section 14(e) of the US Securities Exchange Act of 1934 and Regulation 14E thereunder, as exempted thereunder by Rule 14d-1(d).
To the extent permissible under applicable law or regulation, and in accordance with German market practice, the Bidder, its affiliates and/or brokers acting on its behalf may, outside of the United States of America and in compliance with applicable law, from time to time make certain purchases of, or arrangements to purchase, directly or indirectly, Siltronic Shares or any securities that are immediately convertible into, exchangeable for, or exercisable for, Siltronic Shares, other than pursuant to the Takeover Offer, after the period in which the Takeover Offer remained open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases would be disclosed as required by law or regulation in Germany or other relevant jurisdictions.
This announcement may contain statements about GlobalWafers Co., Ltd. and/or its subsidiaries (together “GlobalWafers Group”) or Siltronic AG and/or its subsidiaries (together “Siltronic Group”) that are or may be “forward-looking statements”. Forward-looking statements include, without limitation, statements that typically contain words such as “anticipate”, “target”, “expect”, “estimate”, “intend”, “plan”, “believe”, “hope”, “aims”, “continue”, “will”, “may”, “should”, “would”, “could”, or other words of similar meaning. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.
GlobalWafers Co., Ltd. and the Bidder caution you that forward-looking statements are not guarantees of the occurrence of such future events or of future performance and that in particular the actual results of operations, financial condition and liquidity, the development of the industry in which GlobalWafers Group and Siltronic Group operate and the outcome or impact of the Takeover Offer and related matters on GlobalWafers Group and/or Siltronic Group may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. Any forward-looking statements speak only as at the date of this announcement. Except as required by applicable law, GlobalWafers Co., Ltd. and the Bidder do not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.