Shipley Company will acquire the technology, equipment, intellectual property, and remaining workforce of Haleos Inc. for $3.1M

August 30, 2002

1 Min Read

MARLBOROUGH, Mass. -- Shipley Company LLC, a subsidiary of Rohm and Haas Company (NYSE: ROH), said today it will acquire the technology, equipment, intellectual property and remaining workforce of Haleos, Inc. of Blacksburg, Virginia. Haleos creates fiber optic components for a number of end uses, including optoelectronics device components. Shipley was the successful bidder for the Haleos assets in a bankruptcy court hearing yesterday. Shipley will pay $3.1 million for the assets."We couldn't be more excited about the transaction," said David Schram, President of Shipley's Electronic and Industrial Finishing (EIF) group. "We are pleased that Haleos will join our expanding portfolio of technologies for the electronic materials market." Schram said his company is also pleased to become a part of a community that places such value on nurturing high- technology companies.Shipley has a growing portfolio of innovative materials and processes used for the manufacture of semiconductor lasers, optically enabled circuit boards and optical components for communications networks. In June of 2001, Shipley announced its investment in Coviant Inc., which offers leading-edge solutions for the most difficult steps in fiber attachment, fiber sub-assembly, micro assembly and full package assembly for optical components. "The investment we made in Coviant was our first step into optoelectronic technology. With the acquisition of Haleos, we are now in a deeper position with new technologies and products," said Gary S. Calabrese, Shipley Vice President and Chief Technology Officer of Rohm and Haas Electronic Materials. "These products and technologies are in many ways complementary to those of Coviant, so we see this as a broadening of our position."Haleos Inc.Shipley Company LLC

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