Amtech Acquires Majority Ownership of SoLayTec, A Supplier of Key Equipment for High Efficiency Next Generation Solar Cell Structures, including p-Type PERC and n-Type; Expects Acquisition to be Accretive to Fiscal Year 2015 Earnings
TEMPE, Ariz., Dec. 29, 2014 /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 its subsidiary, Tempress Group Holding, B.V., has acquired a majority ownership interest in SoLayTec, B.V., located in Eindhoven, The Netherlands, from RENA. SoLayTec is one of the leading companies providing atomic layer deposition (ALD) systems used in high efficiency solar cells, including current and next generation structures such as p-type PERC and n-type. The acquisition was made with cash and SoLayTec is expected to contribute modestly to revenue and earnings in fiscal 2015, with significant growth expected in 2016.
Mr. Fokko Pentinga, Chief Executive Officer of Amtech, commented, "This acquisition further demonstrates our focus on expanding our participation in the solar market with breakthrough technologies that advance the industry and directly address our customers' interest in increasing solar cell efficiency at a lower cost of total ownership. We believe SoLayTec's InPassion® ALD ultrafast, high throughput systems reflect a significant opportunity for our current and prospective customers. The system is already installed at several key customers and SoLayTec has additional purchase orders in hand. We are already executing on sales synergies, with SoLayTec's ALD system part of the second phase n-type expansion at Mission Solar Energy. Also, we are offering Tempress' PECVD and SoLayTec's spatial ALD as an integrated solution for our customers' passivation and aluminum oxide needs. As part of the transaction, we will continue to cooperate on technology with RENA and their wet chemical processes. With these synergies we expect a highly efficient integration process and a solid platform for our combined companies to successfully participate in the upcoming PERC market and accelerate SoLayTec's growth in 2015 and beyond in support of Amtech's solar growth strategy."
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.
SoLayTec is a spin-off company of the Dutch research organization TNO, and established in 2010 and co-financed by a high tech fund of BOM (regional development agency). The company develops, delivers and services machines for ALD on solar cells worldwide. The SoLayTec ALD machines are designed for mass production in the solar market in which SoLayTec has built a leading position. For more information, please visit www.solaytec.com.
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 ("the Company" or "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. 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 the Company and its management for future operations.
We cannot guarantee that any forward-looking statement will be realized, although we believe that the expectations reflected in the forward-looking statements are reasonable. Achievement of future results is subject to risks, uncertainties and potentially inaccurate assumptions. The Form 10-K that we filed with the Securities and Exchange Commission for the year-ended September 30, 2014 listed various important factors that could affect Amtech'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.
Amtech Systems, Inc.
Bradley C. Anderson
Chief Financial Officer
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/amtech-acquires-majority-ownership-of-solaytec-a-supplier-of-key-equipment-for-high-efficiency-next-generation-solar-cell-structures-including-p-type-perc-and-n-type-expects-acquisition-to-be-accretive-to-fiscal-year-2015-earni-300014080.html
SOURCE Amtech Systems, Inc.
Released December 29, 2014