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Diodes to Purchase FabTech for $25 Million

November 07, 2000|BARBARA MURPHY

Diodes Inc. in Westlake Village said it will acquire FabTech Inc. of Lee's Summit, Mo.

The transaction is expected to be completed in early December.

The 5-inch-wafer foundry, specializing in Schottky products, is in a 70,000-square-foot manufacturing facility once owned by AT & T.

FabTech, which has 210 employees, is expected to generate about $20 million in revenue this year.

"The acquisition of FabTech will take Diodes to the next level and begins to realize our goal of becoming a vertically integrated manufacturer and supplier of semiconductors," said C.H. Chen, president and chief executive.

FabTech will be acquired from Lite-On Power Semiconductor Corp. for about $25 million, with additional payments for meeting specified earnings targets over a four-year period.

Lite-On Power, which is part of the $4.5-billion Lite-On Group, owns about 38% of Diodes' outstanding shares.

FabTech was founded in 1996 when Lite-On Power acquired manufacturing equipment and technology formerly owned by AT & T.

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