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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
April 3, 1997
Moyco Technologies, Inc.
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(Exact Name of Registrant as specified in its charter)
Pennsylvania 0-4123 23-1697233
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
200 Commerce Drive, Montgomeryville, PA 18936
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Registrant's telephone number, including area code: 215-855-4300
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None
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(Former name or former address, if changed since last report)
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Item 5. Other Matters
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On March 28, 1997, the Registrant was served with a Complaint by Cabot
Corporation ("Cabot") claiming infringement of a Cabot patent by a chemical
mechanical planarization slurry manufactured by the Registrant.
The foregoing is a summary of the press release which is attached as
Exhibit A to this report and is incorporated herein by reference. The foregoing
description does not purport to be complete and is qualified in its entirety by
reference to Exhibit A.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
MOYCO TECHNOLOGIES, INC.
By: /s/ Marvin E. Sternberg
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Marvin E. Sternberg
President and Chief Executive Officer
and Chairman of the Board
Date: April 3, 1997
Page 2 of 2
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[Moyco Technologies, Inc. Letterhead]
For Immediate Release
April 3, 1997
Contact: Joseph Sternberg
Moyco and Cabot in litigation
Concerning Patent for CMP slurries
Moyco Technologies, Inc. (MOYC; Nasdaq), a Montgomeryville, PA manufacturer of
precision abrasives, chemical mechanical planarization ("CMP") materials, and
professional dental supplies, has been served with a complaint for patent
infringement which was filed in the United States District Court for the
Northern District of California. CMP is a process used by semiconductor
manufacturers which requires slurries (chemical - abrasive formulations) to
polish wafers. The Complaint, filed by Cabot Corporation, a manufacturer of
chemical products, alleges that a CMP slurry manufactured by Moyco infringes
U.S. patent 5,527,423 owned by Cabot.
Moyco categorically denies that its CMP slurry products infringe on the patented
Cabot product. Furthermore, Moyco contends that prior art, slurries that were
previously available which meet the patent specifications, will invalidate the
patent. Moyco manufactures proprietary CMP slurries which it will vigorously
defend in this case. Moyco management believes that this litigation represents
an improper strategic move by Cabot to prevent Moyco from competing in a market
which is estimated to reach 300 million in revenues by year 2000 and which Cabot
currently controls.
Recent testing and studies have demonstrated that Moyco slurries, which are
formulated using a patented feedstock manufactured by Nanophase Corporation of
Burr Ridge, Illinois, produce outstanding semiconductor polishing results
including (i) significantly smoother surfaces, (ii) more selective removal of
excess metal and (iii) easier cleaning during the manufacturing process. For
purposes of manufacturing CMP slurry products, Moyco, as previously announced,
retains exclusive rights to Nanophase proprietary powders consisting of
extremely small particles of nanocrystalline alumina and ceria.
CONTINUED
Exhibit A
Page 1 of 2
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(Page 2 - News Release of April 3, 1997)
Moyco has retained counsel to vigorously defend against the Cabot complaint
which it believes to be without basis and against which Moyco will raise
meritorious defenses.
Moyco has recently signed a joint development agreement with a major Pacific Rim
manufacturer of semiconductors pursuant to which the companies will work closely
together to optimize a CMP process utilizing a proprietary Moyco CMP slurry.
In addition, one Moyco CMP slurry product was established as superior to a
competitive slurry according to a study presented at a recent CMP symposium in
San Jose, California. Moyco has been manufacturing slurries for over twenty
five years; originally for purposes of producing precision coated abrasives and
thereafter for various finishing applications.
In other matters, Moyco has established a foreign sales corporation for purposes
of managing its expanding international business.
END
Exhibit A
Page 2 of 2
