Located in Tainan, Taiwan, many local government officials, customers, suppliers, and other significant guests attended the grand opening which included a ribbon-cutting ceremony.The guests also received a grand tour of our new facility.
Thomas Edman, President and Chief Executive Officer of Applied Films Corporation, said: "We are truly pleased to announce this celebration. I am honored to have such tremendous support from the Taiwan and Tainan government as well as our important customers and vendors. This substantial investment in Asia strengthens our ability to service our Display customers. The strategy fits in with our recently announced TRITON system for PVD deposition on the array side of a TFT display by giving us a potential future production base for this platform as well as our New Aristo color filter PVD system. We believe our customers in Asia will soon experience the positive impact of Applied Films Taiwan Co., Ltd."
On June 1, 2004, the Company reported that it completed the acquisition of the In-line Systems division of Helix Technology, Inc., Taiwan. The acquired division is a wholly-owned subsidiary of Applied Films Corporation, that paid approximately $14.5 million, consisting of approximately $12.5 million in cash and 80,826 shares of Applied Films common stock.