ATMI Partners Emosyn Business With Silicon Storage Technology
September 13 2004 - 3:00AM
PR Newswire (US)
ATMI Partners Emosyn Business With Silicon Storage Technology
DANBURY, Conn., Sept. 13 /PRNewswire-FirstCall/ -- ATMI, Inc.
(NASDAQ:ATMI), a supplier of materials and materials packaging to
the world's leading semiconductor manufacturers, today announced
that it has sold its Emosyn smart card business to Silicon Storage
Technology, Inc. (NASDAQ:SSTI) through a newly formed subsidiary,
Emosyn International. Emosyn International is to be jointly held by
SST (83.6%) and ATMI (16.4%). Emosyn International, with
approximately 40 employees, will operate as a separate entity,
designing and developing leading edge integrated circuits (ICs) for
the smart card market based on SST's SuperFlash technology. Emosyn
will continue to have a research and development center in Silicon
Valley, a marketing and application office in the United Kingdom,
and an office in Singapore for marketing and applications support.
Gene Banucci, Chief Executive Officer of ATMI, said, "We are very
excited about our alliance with SST. In addition to the fact that
they are a terrific company with outstanding flash memory
technology, we believe this is the optimal pathway for ATMI both to
focus on our materials-based strategy and to maintain the
opportunity to generate shareholder value from our Emosyn
investment." Dan Sharkey, ATMI Chief Financial Officer, said, "ATMI
will realize an immediate gain on the sale of the Emosyn assets,
while generating additional cash for our already strong balance
sheet. As far as our Technologies divestment initiative is
concerned, we are now at the point where five of the six
Technologies businesses in the ATMI portfolio have been divested.
Thus we remain on track to complete this initiative by year-end."
The names and marks referenced in this press release are the
property of their respective owners. SuperFlash is a registered
trademark of Silicon Storage Technology, Inc. ATMI provides
specialty materials and materials packaging to the worldwide
semiconductor industry. As the Source of Semiconductor Process
Efficiency, ATMI helps customers improve wafer yields and lower
operating costs. For more information, please visit atmi.com.
Statements contained herein that relate to ATMI's future
performance, including, without limitation, statements with respect
to ATMI's anticipated results of operations or level of business
for 2004 or any other future period, are forward-looking statements
within the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such statements are based on current
expectations only and are subject to certain risks, uncertainties,
and assumptions including, but not limited to, changes in
semiconductor industry growth or ATMI's markets; competition,
problems, or delays developing and commercializing new products;
problems or delays in integrating acquired operations and
businesses into ATMI; problems or delays associated with any
restructuring activity, or implementing any strategy, including
resolution of the various discontinued elements of ATMI's
Technologies segment; and other factors discussed in ATMI's filings
with the Securities and Exchange Commission. Such risks and
uncertainties could cause actual results to differ from those
projected. ATMI undertakes no obligation publicly to update or to
revise any forward-looking statements, whether because of new
information, future events or otherwise. DATASOURCE: ATMI, Inc.
CONTACT: Dean Hamilton, ATMI, +1-203-207-9349, Direct, or
+1-203-794-1100 ext. 4202, Web site: http://www.atmi.com/
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