| SACHEM, Inc. (USA) and Showa Denko K.K. (Japan) Form An Alliance |
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Austin, TX - May 23, 2001 - SACHEM, Inc. and Showa Denko K.K. announce the formation of a joint venture, SACHEM SHOWA Co., Ltd., to manufacture and sell tetramethylammonium hydroxide (TMAH) in Asia. TMAH is widely used as a key raw material for developer in the semiconductor industry. SACHEM, the world's largest manufacturer of TMAH, and Showa Denko, one of the largest specialty chemical manufacturers in Japan, will combine their TMAH related assets in Japan to form this joint venture. As a result, Showa Denko's Higashinagahara TMAH production facility and SACHEM Japan's Higashi Osaka TMAH services facility will be placed in the joint venture company. SACHEM SHOWA Co., Ltd. will manage all future business activities relating to TMAH in Asia. In order to meet the expanding needs of the Asian electronics industry, plans are already underway to double the Higashinagahara TMAH production capacity. Additionally, TMAH recycling technology is currently under development to strengthen the venture's ongoing commitment to protect the environment. SACHEM SHOWA Co., Ltd. will expand its Far East business to be recognized as the leading supplier of TMAH in the region. The joint venture's combined capabilities will provide exceptional service, delivery and sales support throughout Asia. Both companies are studying the possibility of expanding the alliance to cover other products and services. Company Summary Company Name: SACHEM SHOWA Co., Ltd. Head Office: Higashi Osaka Facilities: Higashinagahara and Higashi Osaka Ownership: SACHEM, Inc - 66%: Showa Denko K.K.- 34% President: Mitsuya Okano SACHEM, Inc., is based in Austin, Texas, and serves the high-purity requirements of its customers worldwide in the semiconductor, polymer, pharmaceutical, catalyst, and agricultural chemical markets. |