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AIXTRON SE
M&A Activity • May 25, 2017
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M&A Activity
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News Details
Corporate | 25 May 2017 07:52
AIXTRON SE to sell its ALD/CVD Memory Product line / The transaction is subject to regulatory approvals / The transaction is expected to close in the second half of 2017
DGAP-News: AIXTRON SE / Key word(s): Disposal/Strategic Company Decision
25.05.2017 / 07:52
The issuer is solely responsible for the content of this announcement.
AIXTRON SE to sell its ALD/CVD Memory Product line
The transaction is subject to regulatory approvals and expected to close in the second half of 2017
Herzogenrath, Germany, May 25, 2017 – AIXTRON SE (FSE: AIXA; OTC: AIXNY), a worldwide leading provider of deposition equipment to the semiconductor industry, today announced it is to sell the ALD and CVD memory product line of AIXTRON Inc., based in Sunnyvale, California to Eugene Technology Inc., a wholly owned U.S. subsidiary of Eugene Technology Co., Ltd, South Korea.
AIXTRON, Inc., the U.S. subsidiary of AIXTRON SE will continue to provide sales and support for its continued business as well as to pursue its thin film encapsulation (TFE) activities.
The agreed purchase price in a range between USD 45 million and USD 55 million will be paid in cash at closing. The purchase price includes inventory and other prepaid assets. Due to ongoing business, their value will be determined at time of closing.
The transaction is subject to regulatory approvals, including the Committee of Foreign Investments in the United States (CFIUS) and is expected to close within the second half of 2017.
Kim Schindelhauer, CEO, AIXTRON SE stated: “As a further step of our strategy to focus on our core technologies we decided to sell our ALD/CVD memory product line to Eugene Technology. We believe that Eugene Technology can enhance the growth potential of these technologies supported by their strong footprint in the silicon semiconductor market and their local presence in Korea.”
Pyung Yong Um, CEO, Eugene Technology Co., Ltd. and Eugene Technology Inc. accentuated the importance of acquisition: “A Quantum leap of Eugene Technology is expected with the effect of this acquisition by securing an additional R&D center, overseas sales & marketing base in Silicon Valley as well as accumulated technology by Eugene Technology in the area of Semiconductor Deposition Equipment.”
Management expects that this transaction will not affect the full year 2017 guidance with an order intake and revenues between EUR 180 and 210 million. This guidance includes the core business and the ALD/CVD business up to the date of sale.
Contact:
Guido Pickert
Investor Relations and Corporate Communications
T: +49 (2407) 9030-444
F: +49 (2407) 9030-445
Andrea Su
Investor Relations US
T: +1 (408) 747-7140 Ext. 1292
For further information on AIXTRON SE (FSE: AIXA, ISIN DE000A0WMPJ6; OTC: AIXNY) please consult our website at: www.aixtron.com .
Our registered trademarks: AIXACT (R) , AIXTRON (R) , Atomic Level SolutionS (R) , Close Coupled Showerhead (R) , CRIUS (R) , Gas Foil Rotation (R) , Optacap(TM), OVPD (R) , Planetary Reactor (R) , PVPD TM , TriJet (R)
Forward-Looking Statements
This document may contain forward-looking statements regarding the business, results of operations, financial condition and earnings outlook of AIXTRON. These statements may be identified by words such as “may”, “will”, “expect”, “anticipate”, “contemplate”, “intend”, “plan”, “believe”, “continue” and “estimate” and variations of such words or similar expressions. These forward-looking statements are based on our current assessments, expectations and assumptions, of which many are beyond control of AIXTRON, and are subject to risks and uncertainties. You should not place undue reliance on these forward-looking statements. Should these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of AIXTRON may materially vary from those described explicitly or implicitly in the relevant forward-looking statement. This could result from a variety of factors, such as actual customer orders received by AIXTRON, the level of demand for deposition technology in the market, the timing of final acceptance of products by customers, the condition of financial markets and access to financing for AIXTRON, general conditions in the market for deposition plants and macroeconomic conditions, cancellations, rescheduling or delays in product shipments, production capacity constraints, extended sales and qualification cycles, difficulties in the production process, the general development in the semi-conductor industry, increased competition, fluctuations in exchange rates, availability of public funding, fluctuations and/or changes in interest rates, delays in developing and marketing new products, a deterioration of the general economic situation and any other factors discussed in any reports or other announcements , in particular in the chapter Risks in the Annual Report, filed by AIXTRON. Any forward-looking statements contained in this document are based on current expectations and projections of the executive board based on information available the date hereof. AIXTRON undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise, unless expressly required to do so by law.
This document is an English language translation of a document in German language. In case of discrepancies, the German language document shall prevail and shall be the valid version.
25.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | AIXTRON SE |
| Dornkaulstraße 2 | |
| 52134 Herzogenrath | |
| Germany | |
| Phone: | +49 (2407) 9030-0 |
| Fax: | +49 (2407) 9030-40 |
| E-mail: | [email protected] |
| Internet: | www.aixtron.com |
| ISIN: | DE000A0WMPJ6, DE000A2E4085 |
| WKN: | A0WMPJ, A2E408 |
| Indices: | TecDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Nasdaq OTC |
| End of News | DGAP News Service |