Amtech Systems: Acquisition of BTU International
TEMPE, Arizona - Amtech Systems, Inc. (ASYS), a global supplier of production and automation systems and related supplies for the manufacture of solar cells, semiconductors, and sapphire and silicon wafers, 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."
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.
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
Amtech Systems, Inc.
Bradley C. Anderson
Chief Financial Officer