FREMONT, Calif. -- The silicon wafer industry, which supplies the world's semiconductor manufacturers, changed dramatically today with final approval for a merger that boosts the industry's number three and four companies to the number two position in sales, and creates a network of state-of-the-art manufacturing facilities in Asia, Europe and the United States. The silicon operations of Sumitomo Metal Industries, Ltd. (hereinafter "Sumitomo") and Mitsubishi Materials Corporation (hereinafter "Mitsubishi") will officially merge under the new name Sumitomo Mitsubishi Silicon Corporation (SUMCO) on February 1, 2002. Combined sales of the new company, which is owned equally by both partners, represents nearly 25 percent of the $5.2 billion silicon wafer market that is the foundation of the world's microelectronics industry. Headquartered in Tokyo, SUMCO's new president is Reijiro Mori, former director of Sumitomo. Minoru Mizukoshi, former chairman of Mitsubishi Materials Silicon, is executive vice president of SUMCO and chairman of SUMCO USA Corporation, headquartered in Fremont, CA. Kaz Nagano is president of SUMCO USA Corporation. Sumitomo Mitsubishi Silicon Corp. (SUMCO)