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New Shipley Ronal division will be an exceptional force in the worldwide electronics industry

Rohm & Haas Co : 28 January, 2000  (Company News)
Pierre Brondeau, President of Shipley Company, today said that the new Shipley Ronal division will be an exceptional force in the worldwide electronics industry.
Shipley Ronal was created earlier this week when the former LeaRonal, Inc. was merged with the Printed Wiring Board division of Shipley Company. The transaction immediately increases the estimated annual sales of Shipley Company by more than 50 percent.
LeaRonal, which reported $242 million in fiscal 1998 sales, develops and markets precious and non-precious metal-based processes used by the electronics industry for semiconductor packaging, printed circuit boards, electronic connectors, and by the metal finishing industry for plating a wide range of materials, ranging from steel to eyeglass frames and jewelry. Shipley's PWB division has a pre-eminent position providing specialty chemicals and processes for the world's manufacturers of printed circuit boards and related materials for the fast-growing electronics industry.

Shipley's parent company, Rohm and Haas, initiated a tender offer for LeaRonal on December 23rd. Government and regulatory approvals were completed smoothly, and the tender offer was completed on January 22nd, with nearly 96 percent of LeaRonal shares tendered at a price of $34 per share.

'The completion of the transaction in such a short period of time is itself an indication of the benefit all see in this merger,' said Brondeau. 'Our vision from this point forward is to create a stronger, more efficient organization that takes advantage of the proprietary technologies of both firms, as well as their complementary geographic locations, to provide even greater value for our customers.' Brondeau indicated that one of the driving forces behind the merger is the consolidation in the electronics industry that is driving a need for larger suppliers who can offer a broad enough product range to be able to efficiently supply today's worldwide customers with state-of-the-art technology.

Brondeau said future growth for Shipley Company will be structured around two divisions, the newly formed Shipley Ronal division, which will serve the PWB, connector, semiconductor packaging and general surface finishing markets and Shipley's existing Microelectronics division, which will continue to serve the semiconductor manufacturing market.

Shipley is the cornerstone of Rohm and Haas's Electronic Materials market, which also includes a 48-percent interest in Rodel, a leading-edge company offering technology for the chemical mechanical planarization portion of the semiconductor manufacturing market.

'Our customers have said they are excited about this merger, and so are we, for we intend to offer exceptional technology and exceptional service for current and future customers,' said Brondeau.
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