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the chemical canisters were being refilled. ADCS’ startup costs
for manufacturing the dual canister refilling system were
approximately $1.1 million.
By the mid-1990s, ADCS was selling TEOS and the other
chemicals and canisters that it manufactured in Texas to computer
chip manufacturing companies located throughout the World,
including Europe and South Korea.
In South Korea, in 1995, as a result of pressure from the
South Korean Government and from computer chip manufacturing
companies doing business in South Korea, ADCS and an unrelated
Korean company jointly formed under Korean law ADCS-Korea Co.,
Ltd. (ADCS-Korea), for the purpose of manufacturing in South
Korea TEOS and other chemical products that ADCS manufactured in
the United States.
The shares of stock in ADCS-Korea were owned 70 percent by
ADCS and 30 percent by South Korean interests.
In 1995, to the initial capitalization of ADCS-Korea, ADCS
contributed $1.55 million and the South Korean company
contributed $664,000. These funds were used by ADCS-Korea to
purchase machinery, equipment, vehicles, tools, and furniture, to
hire employees and to purchase land in an industrial park in
Anseong, South Korea, on which a chemical manufacturing plant was
built.
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Last modified: May 25, 2011