Separation of DAStec Incorporation from DISCO Corporation
July 29, 2005 - DISCO Corporation (Head office: Ota-ku, Tokyo, President: Hitoshi Mizorogi) has reached an agreement
with DAStec Incorporation* (Headquarters: Saitama-ken Toda-shi, President: Shunji Yoshida)
regarding a management buyout and for DAStec Inc to become a completely separate company from the DISCO Group.
Establishment of DAStec
DAStec was established in 2001 as part of the DISCO Group (Investment ratio - DISCO: 49%, DAStec management team: 51%) to manufacture and sell slicing machines for the processing of various electronic components. Initially, slicing machine manufacture and sales was handled by DISCO. However, because the slicing market is different to DISCO's main market focus and to enable DEStec to efficiently operate as an adaptable small size company, it was decided to establish a new company and separate it from the DISCO Group.
Complete Separation
The complete separation of DAStec was initially considered when DAStec was established. Through an official management buyout, it was decided by both the management team of DISCO and DAStec for DAStec to separate from DISCO and for DAStec to purchase DISCO's 49% ownership of DAStec shares. As a result, the DAStec management team would own 100% of DAStec shares and would realize the complete separation of DAStec.
| * DAStec Incorporated |
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Capital |
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: US$182,400 |
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Number of Employees |
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: 12 people (as of August 8, 2005) |
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Business details |
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: Slicing machine manufacture, sales & maintenance |
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Sales for 2005 financial year |
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: US$2,836,000 |
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Forecast sales for 2006 financial year |
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: US$2,918,000 |
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(Exchange rate: 109.66 yen) |
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Contact:
DISCO Corporation
Corporate Strategy Division
Management Strategy Department
Marketing Communications Team
Phone: 81-3-4590-1090Fax: 81-3-4590-1094 |
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