| Jul9th |  |
Taiyo Fund Takes Significant Stake in Disco (6146) to over 5% |
The Taiyo Fund announced today that it has accumulated a position in excess of 5% in Disco Corp (6146) to become its fifth largest shareholder. The Taiyo Fund is known for its cooperative investment style working with senior management to enhance shareholder value.
Brian K. Heywood, Chief Executive Officer and Managing Partner of Taiyo Pacific Partners, said, "We are impressed by Disco's strong market-oriented management team and visionary R&D capabilities. Disco's long term relationships with clients and superior market position make it an attractive core holding. We highly value our friendly and interactive relationship with management and are confident they will generate ongoing value for shareholders."
Wilbur L. Ross Jr., Chairman of the Taiyo Fund investment committee said, "As the world's leading maker of precision dicing and grinding equipment, Disco's technologies play an instrumental role in helping the semiconductor industry continue to push technological boundaries and manufacture smaller and thinner chips that enable the consistently growing mobile electronics market. We are proud to be invested in this global niche leader and high quality company."
Mr. Hitoshi Mizorogi, President of Disco, commented, "I am grateful that the Taiyo Fund, a friendly investor with a long term approach, has come to truly understand Disco's management philosophy. Through managing the company in a transparent way based on “DISCO VALUESâ€, we will work to maintain a friendly and mutually beneficial relationship that increases the exchange of value with all stakeholders."
The Taiyo Fund was organized in July 2003 with an initial equity investment of $200 million by CalPERS, the State of California Public Employees Retirement System. The Fund currently has over $1.4 billion under management. The Fund is co-managed by Taiyo Pacific Partners LP and by WL Ross & Co. LLC. Taiyo Pacific Partners, located in Monterey, California, was founded in 2003 by bilingual professionals dedicated to friendly shareholder activism in Japan.
Wilbur L. Ross
212-826-2111
wlross@wlross.com
Brian K. Heywood
425-986-5301
bheywood@tppllc.com
Added on July 9, 2008
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