Micronic Laser Systems AB of Sweden, known for its flat panel displays, announced that it has entered into a joint development agreement with Intel Corporation for a laser pattern generation tool to be used for photomask production. As part of the joint effort, Intel will underwrite a preferential shareholders' rights issue whereby Micronic expects to raise up to $40 million. Between 25-35% of the funds raised through the rights issue will be used to finance further R&D activities. Thus far, Micronic has produced 15 laser pattern generation tools within the semiconductor industry.

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