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December 10, 2009
Hsinchu,
Taiwan: TSMC and Motech Announce Strategic Partnership
Taiwan
Semiconductor Manufacturing Company (TSMC) and Motech Industries
yesterday jointly announced the signing of a share subscription
agreement, under which TSMC will subscribe through a private placement
for 75.32 million new Motech shares.
The
total consideration is approximately NT$6.2 billion (US$193 million),
or NT$82.7 per share, representing a 16.9% discount to Motech’s
3-month average closing price. TSMC will become the largest shareholder
of Motech with 20% shareholding through this investment. The transaction
is subject to Motech’s shareholders’ approval and regulatory approval.
Motech is a leading solar cell manufacturer worldwide and the
largest in Taiwan.
With
manufacturing facilities in Taiwan and China, Motech pursues a
vertical integration strategy and has in-house ingot and wafer
capabilities and a majority investment in polysilicon production
via advanced fluidized bed reactor technology. In addition, Motech
is also Taiwan’s leading provider of photovoltaic systems and
photovoltaic inverters.
Dr.
Rick Tsai, President of TSMC New Businesses, said, “We are delighted
to partner with Motech in our pursuit of new opportunities in
the high-growth solar sector. With the investment, TSMC intends
to leverage Motech’s established platform to accelerate our time
to market, better evaluate opportunities along the solar value
chain, and further formulate our overall solar strategy.”
“TSMC’s
investment affirms Motech’s competitive position in the solar
industry,” said Dr. Simon Tsuo, Chairman and CEO of Motech. “TSMC’s
technology leadership and global management expertise would add
significant value to Motech, as we strengthen supply chain integration
and improve our operational efficiency. We plan to work closely
with TSMC to address new business opportunities. We believe this
partnership would further enhance Motech’s leadership position
in the solar industry.”
Further details about: Taiwan Semiconductor
Manufacturing Company (TSMC) and Motech
Industries
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