P.M. BRIEFING : Kobe Increases Stake in Komag
From Times Wire Services
KOBE, Japan —
Kobe Steel Ltd. said today it will raise its investment in Komag, Inc., Milpitas, Calif.-based independent supplier of sputtered thin-film disks, to 20% from the present 2%.
The Kobe-based firm said an agreement to this effect has been reached in principle between the two companies.
The agreement will make Kobe a major shareholder in the U.S. firm, along with Asahi Glass Co. of Japan, which also holds a 20% stake in the company.
The company said it will help expand Komag’s magnetic disk business and support its new business developments such as magneto optics.
Komag was established in 1983 as a volume producer of sputtered thin-film disks for computer storage to International Business Machine and other major computer makers, the company said.
