Business
Amtech Announces the Sale of its SoLayTec Solar Business
TEMPE, Ariz., June 28, 2019 /PRNewswire/ -- Amtech Systems, Inc. (NASDAQ: ASYS), a manufacturer of capital equipment, including thermal processing and wafer
About this update from Amtech Systems, Inc.
[{"type":"text","content":" TEMPE, Ariz., June 28, 2019 /PRNewswire/ -- 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.\nMr. 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.\"\nAmtech and Oaklins encourage interested parties to reach out to Fokko Poldervaart, an Oaklins' partner. Mr. Poldervaart's contact information is detailed below.\nAbout Amtech Systems, Inc.\nAmtech 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™.\nCautionary Note Re...