manufacturing joint venture in Japan; LSI to accelerate sub-micron capacity to meet customer demand Business Editors MILPITAS, Calif.--(BUSINESS WIRE)--Jan. 26, 1995--LSI Logic Corp., in a move designed to accelerate the expansion of sub-micron manufacturing capacity to meet increased customer demand, Thursday announced it has acquired the shares it doesn't already own from Kawasaki Steel Corp. in a manufacturing joint venture in Japan. LSI Logic expects the buyout will have no meaningful impact on 1995 earnings expectations by securities analysts. LSI Logic had been a 55% shareholder of Nihon Semiconductor Inc. (NSI), a manufacturing joint venture first announced in 1985 by LSI Logic and Kawasaki Steel. The joint venture managed and operated two high-volume manufacturing facilities in Tsukuba, Japan. Both semiconductor factories now will be under the sole ownership of LSI Logic. "Strong demand over the past several quarters for our semiconductor products based upon our leading-edge 0.5 micron and 0.6 micron process technologies had prompted us to want to accelerate our manufacturing capacity timetable, which this buyout will allow us to do at NSI," said Wilfred J. Corrigan, chairman and chief executive of LSI Logic. In commenting on the relationship with Kawasaki Steel, Corrigan said, "Kawasaki Steel and LSI Logic continue to enjoy an excellent relationship." He added, "The joint venture served the dual needs of both companies for many years, and now both companies agree that it is in their best interests to pursue their own independent strategies." LSI Logic Corp. (NYSE:LSI) is a Fortune 500 supplier of high-performance semiconductors, with operations worldwide. The company enables customers to build complete systems on a single chip with its CoreWare methodology, thereby increasing performance, lowering system costs and accelerating time to market. LSI Logic develops customized products in partnership with leading customers, and operates leading-edge, high-volume manufacturing facilities to produce sub-micron chips. LSI Logic is headquartered at 1551 McCarthy Blvd, Milpitas, Calif. 95035, 408/433-8000. Note to Editors: The company today filed an 8-K document in relation to this Kawasaki Steel transaction with the Securities and Exchange Commission.
LSI LOGIC ANNOUNCES BUYOUT OF KAWASAKI STEEL IN
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