Photronics Inc., which makes precision parts used in the manufacture of semiconductor and flat panel displays, reported a 6 percent drop in its third-quarter sales on what it said was muted demand for higher end products.
Brookfield's Photronics Inc. got the greenlight from Taiwan's overseer of publicly traded shares to proceed with Photronics' $25 million to $30 million purchase of an outstanding quarter stake in its subsidiary in that Asia-Pacific island nation.
Brookfield's Photronics Inc. says it will pay between $25 million to $30 million to acquire the remaining quarter stake in the Brookfield photo mask maker's Taiwan subsidiary.
Photronics Inc. says its fiscal fourth-quarter net is likely to come in well below it and Wall Street's previous estimate due to continued sluggish demand for the Brookfield firm's technology for imprinting microcircuitry onto silicon chips.