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Cemat — Share Issue/Capital Change 2011
Jan 26, 2011
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Download source file26 January 2011, 2011-01-26 22:21 CET (GLOBE NEWSWIRE) -- Late Wednesday
evening, Topsil Semiconductor Materials A/S signed a purchase agreement with
Frederikssund Municipality, concerning purchase of land to build a new state of
the art facility in an upcoming clean tech park, Frederikssund. The new
facility is to replace the current factory by late 2012, and the agreement
constitutes an important milestone in implementing Topsil's growth strategy,
focusing on modernisation and expansion of production capacity.
”The new facility makes it possible to meet expected market growth of the
coming years. We expand production capacity while improving our competitive
situation by rethinking flow and investing in new, advanced technology” says
Topsil Semiconductor Materials A/S CEO, Mr Keld Lindegaard Andersen.
“ Strengthening our cost position through efficiency gains and improving
silicon poly yield is a vital part of our strategy. The new facility will not
only ensure stronger customer loyalty among existing customers, but it is also
the key to attracting new customers. Our new factory will be a state of the
art, scalable clean room facility, allowing for shorter lead times and
supporting the development of new products within high growth areas.”
Construction costs are expected to total approximately DKK 205m from 2010
through 2012, of an aggregated investment budget of approximately DKK 290m,
with the highest drawing on liquidity in 2011. Investments will be covered by
expected cash flows from operations, committed loan facilities as well as a
successfully completed share issue that generated proceeds of DKK 85m in May
2010.
Completion of the new facility is expected by end H1 2012, after which a step
by step transfer of machinery and other equipment will continue for the rest of
the year.
Following the municipal approval of the agreement late Wednesday evening,
Frederikssund Mayor, Mr Ole Find Jensen, is pleased to welcome Topsil in the
upcoming clean tech park.
”Topsil's decision is of great importance to the clean tech park project. Once
the new facility is up and running, I am certain that Topsil will further
continue the strong performance of recent years. Yet, at the same time Topsil
will contribute to inspiring and attracting additional companies to the park,
and so Topsil will become one of the cornerstones of an attractive and
innovative business environment to materialise in the coming years” Mr Ole Find
Jensen says.
Further information
Please contact Topsil Semiconductor Materials A/S:
Chairman Jens Borelli-Kjær, +45 40 16 14 82
CEO Keld Lindegaard Andersen, +45 21 70 87 72
Please note that this translation is provided for convenience only. In case of
discrepancies, the Danish version shall prevail.