Home PV Manufacturing Amtech Announces the Sale of its SoLayTec Solar Business
Amtech Announces the Sale of its SoLayTec Solar Business

Amtech Announces the Sale of its SoLayTec Solar Business

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TEMPE, Ariz.: Amtech Systems, Inc. (NASDAQ: ASYS), a manufacturer of capital equipment, including thermal processing and wafer handling automation, and related consumables used in fabricating semiconductor devices, light-emitting diodes (LEDs), silicon carbide (SiC) and silicon power chips and solar cells, announced today the sale of its SoLayTec business as the first step in the previously announced plan to divest substantially all of its solar segment. Amtech expects to report a gain on the sale this quarter and reduced losses from discontinued operations beginning in the fourth fiscal quarter.

Mr. J.S. Whang, Executive Chairman and Chief Executive Officer of Amtech, stated “we are pleased with the timely divestiture of SoLayTec. Following Amtech’s March announcement to discontinue solar and to dedicate our resources to value-driving opportunities in our semiconductor and SiC/LED polishing businesses going forward, we engaged Oaklins SmallCap Adivsory B.V. located in the Netherlands, to advise on the divestiture of Tempress Holding B.V. Today, we are pleased to report that Oaklins is actively engaged in conversations with both private equity and strategic buyers.”

Amtech and Oaklins encourage interested parties to reach out to Fokko Poldervaart, an Oaklins’ partner. Mr. Poldervaart’s contact information is detailed below.

About Amtech Systems, Inc.

Amtech Systems, Inc. is a global supplier of advanced thermal processing and polishing equipment and related consumables to the semiconductor / electronics, power IC businesses, and advanced lighting manufacturing markets. Amtech’s equipment includes diffusion, solder reflow systems, wafer handling automation, and polishing equipment and related consumables for surface preparation of various materials, including silicon carbide (“SiC”), sapphire and silicon. The Company’s wafer handling, thermal processing, polishing and consumable products currently address the diffusion, oxidation, and deposition steps used in the fabrication of semiconductors, printed circuit boards, semiconductor packaging, MEMS, and advanced lighting, including the polishing of newly sliced sapphire and silicon wafers. Amtech’s products are recognized under the leading brand names BTU International, Bruce Technologies™, PR Hoffman™, and R2D Automation™.

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). The forward-looking statements in this press release relate only to events or information as of the date on which the statements are made in this press release. Examples of forward-looking statements include statements regarding Amtech’s future financial results, operating results, business strategies, projected costs, products under development, competitive positions, plans and objectives of Amtech and its management for future operations, efforts to improve operational efficiencies and effectiveness and greater China sourcing. 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 used in this press release or by our management, which are intended to identify such forward-looking statements. 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, 2018, listed various important factors that could affect the company’s 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 Amtech or on its behalf. These factors can be found under the heading “Risk Factors” in the Form 10-K 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.

Source: Amtech Systems, Inc.
Anand Gupta Editor - EQ Int'l Media Network