TEMPE, Ariz., Jan. 30, 2015 /PRNewswire/ -- Amtech Systems,
Inc. (NASDAQ: ASYS), a global supplier of production and automation
systems and related supplies for the manufacture of solar cells,
semiconductors, and sapphire and silicon wafers, today announced
that it has completed its acquisition of BTU International
(BTU).
J.S. Whang, Executive Chairman of
Amtech, said, "The addition of BTU supports our business model of
growth through strategic acquisition and continuous innovation.
This acquisition further advances our strategy to expand our
technology portfolio in adjacent markets and creates an even
stronger platform to drive the growth of our solar business."
Fokko Pentinga, President and
Chief Executive Officer of Amtech commented, "The combination with
BTU further enhances our position as a leading, global supplier of
solar and semiconductor production and automation systems. BTU
provides Amtech with complementary thermal processing technologies
in the semiconductor, electronics and solar sectors, and
strengthens our footprint in China
and other key geographic markets with attractive growth
trends. Our shared focus on service, innovation and quality
will further strengthen our highly respected brands and enhance our
ability to best serve our customers."
Transaction Information
As previously announced on October 22,
2014, under terms of the merger agreement, BTU shareholders
are entitled to receive 0.3291 of newly registered shares of Amtech
common stock for each share of BTU stock they held at the time of
closing.
The combined company is expected to generate $4 – 5 million of annual operating expense
savings within 12 months post-closing. Amtech expects the
transaction to be accretive to fiscal 2015 non-GAAP earnings per
share.
In connection with the completion of the transaction, BTU ceased
trading on the NASDAQ stock exchange.
About Amtech Systems, Inc.
Amtech Systems, Inc. manufactures capital equipment, including
silicon wafer handling automation, thermal processing and ion
implant equipment and related consumables used in fabricating solar
cells, LED and semiconductor devices. Semiconductors, or
semiconductor chips, are fabricated on silicon wafer substrates,
sliced from ingots, and are part of the circuitry, or electronic
components, of many products including solar cells, computers,
telecommunications devices, automotive products, consumer goods,
and industrial automation and control systems. The Company's wafer
handling, thermal processing and consumable products currently
address the diffusion, oxidation, and deposition steps used in the
fabrication of solar cells, LEDs, semiconductors, MEMS and the
polishing of newly sliced silicon wafers.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release is
forward-looking in nature. All statements in this press release, or
made by management of Amtech Systems, Inc. and its subsidiaries
("Amtech"), other than statements of historical fact, are hereby
identified as "forward-looking statements" (as such term is defined
in Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended). In
some cases, forward-looking statements can be identified by
terminology such as "may," "will," "should," "would," "expects,"
"plans," "anticipates," "intends," "believes," "estimates,"
"predicts," "potential," "continue," or the negative of these terms
or other comparable terminology or our management are intended to
identify such forward-looking statements. Examples of
forward-looking statements include statements regarding Amtech's
future financial results, operating results, business strategies,
projected costs, products under development, competitive
positions, and plans and objectives of Amtech and its
management for future operations. These statements are not
guarantees of future performance and involve risks, uncertainties
and assumptions that are difficult to predict. The Form 10-K
that Amtech filed with the Securities and Exchange Commission (the
"SEC") for the year-ended September 30,
2014, and the Form 10-K that BTU filed with the SEC for the
year-ended December 31, 2014,
listed various important factors that could affect the companies'
respective future operating results and financial condition and
could cause actual results to differ materially from historical
results and expectations based on forward-looking statements made
in this document or elsewhere by the respective companies or on
their behalf. These factors can be found under the heading
"Risk Factors" in the Form 10-Ks and investors should refer to
them. Because it is not possible to predict or identify all
such factors, any such list cannot be considered a complete set of
all potential risks or uncertainties. Except as required by
law, we undertake no obligation to publicly update forward-looking
statements, whether as a result of new information, future events,
or otherwise.
Contacts:
Amtech Systems, Inc.
Bradley C. Anderson
Chief Financial Officer
(480) 967-5146
irelations@Amtechsystems.com
Or
Christensen
Investor Relations
Patty Bruner
(480) 201-6075
Pbruner@christensenir.com
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SOURCE Amtech Systems, Inc.