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Release: February 12, 2002

NGK Acquires Management Rights to US based Manufacturer of
Modules for Semiconductor Equipment

NGK Insulators, Ltd. purchased a 95% stake in FM Industries, Inc. (FMI), an American manufacturer of modules for semiconductor equipment, for the amount of US$20.56 million on January 31, 2002, thereby obtaining management rights to FMI. In response to the growing trend among semiconductor equipment manufacturers to shift toward the purchase of modules incorporating various components, NGK will expand from its current status as a ceramic component manufacturer to a general module manufacturer. The partnership with FMI will allow it to expand its ceramics business for semiconductor equipment

In order to respond to demand fluctuation, semiconductor equipment manufacturers (to which NGK supplies to ceramic components) are currently in process of adopting lean production systems and shifting to the purchase of modules that combine multiple components. Against this background, there is a perspective that semiconductor equipment manufacturers will have transaction mainly with module manufacturers.

NGK has sought ways to deal with this trend of modularization and to further expand its business through forming alliances with other companies. FMI is a leading U.S. metal parts processing company, with first-rate technical capabilities and a high sales ratio for modules. Following negotiations involving a potential partnership, NGK obtained management rights to FMI.

By combining its ceramic and FMI's module technologies, NGK will develop into a general module manufacturer and expand its ceramics business for semiconductor equipment.

Outline of FM Industries, Inc.

1. Establishment: 1988
2. Head Office: Fremont, California, USA
3. Chairman of the Board: Hidenori Nanto (also Managing Director of NGK Insulators, Ltd., Deputy Group Executive of the Electronics Business Group and General Manager of Electronic Components Division)
4. President: David Miller
5. Description of Business: processing of metal parts for semiconductor equipment and manufacture of modules
6. Number of Employees: approx. 100
7. Sales Amount: US$54.2 million in 2000, and US$31.1 million in 2001
8. URL: http://www.fmindustries.com/
ceramic components for semiconductor equipment

A photo of ceramic components for semiconductor equipment


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