Photronics, Inc. is a manufacturer of photomasks, which are precision photographic quartz plates that contain microscopic images of electronic circuits. These photomasks are essential components in the production of semiconductors and flat panel displays (FPDs), serving as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits and other electronic components. The company primarily generates revenue from products designed for integrated circuits, with additional income derived from those intended for FPD production. Photronics operates manufacturing facilities in Taiwan, Korea, the United States, and Europe, and sells its products to semiconductor and FPD designers, manufacturers, and foundries worldwide. Founded in 1969 and based in Brookfield, Connecticut, Photronics was formerly known as Photronic Labs, Inc. before changing its name in 1990.
Microphase Laboratories, Inc. is located in Colorado Springs, Colorado, had sales in excess of $2 million during 1994 and employs 28 people. Since its inception, Microphase focused on the large area mask market, and supported traditional integrated circuit mask customers. Over time, Microphase has successfully developed proprietary lithography, inspection, and repair systems and processes for the production of large area masks. Photronics will incorporate Microphase's facility, technologies and processes into its manufacturing network and expand on them as the demand for large area masks increases in the future. It is expected that the acquisition will have a minimal near-term effect on sales and earnings.
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