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Diodes Inc. to Acquire Willas Co. of Hong Kong

September 09, 1986

Diodes Inc., which makes power-supply regulators known as rectifiers, has agreed to purchase Willas Co. Ltd., a privately held electronic-parts distributor based in Hong Kong. The deal, terms of which were not disclosed, would nearly double Diodes' sales.

The Chatsworth-based company's president and chief executive, David Lloyd, said the acquisition was intended to expand his company's presence in the Pacific Rim.

No changes in employment are anticipated, Lloyd said. Diodes employs 80 people at three facilities: in Chatsworth, Lynn, Mass., and a Taiwan branch office.

Willas has 18 workers, all of whom work in Hong Kong. Lawrence Leung, general manager of Willas, and other company officials will continue to operate the company under employment contracts with Diodes.

Diodes reported a loss for its fiscal year ended April 30 of $415,659, or 21 cents a share, on sales of $11.1 million. It blamed its losses on the slowdown in the semiconductor business.

Willas reported sales of more than $10 million in its fiscal year ended March 31. The company said it earned $4 million in this year's first fiscal quarter, "substantially greater" than in last year's corresponding period.

About half of Willas' sales are of products similar to Diodes' that are used in many kinds of electronic devices. Other Willas products include capacitors, resistors and integrated circuits.

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