M&A Activity • Apr 2, 2009
M&A Activity
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FOR: BE SEMICONDUCTOR INDUSTRIES N.V. Ratio 6 6921 RW Duiven, The Netherlands
Duiven, the Netherlands, April 2, 2009, BE Semiconductor Industries N.V. ("the Company" or "Besi") (Euronext: BESI), a leading manufacturer of assembly equipment for the semiconductor industry, today announced the closing of its acquisition of 100% of the shares of Oerlikon Assembly Equipment AG and certain assets and affiliates related thereto which comprise the Esec business unit ("Esec") from OC Oerlikon Corporation AG ("Oerlikon"). Besi transferred to Oerlikon 2.8 million of its ordinary shares held in treasury, representing 8.3% of its total shares outstanding, as consideration for the acquisition.
In commenting on the transaction, Richard W. Blickman, President and Chief Executive Officer of Besi explained: "The purchase of Esec is a complementary product acquisition that fits well with our goal of becoming the world's leading assembly equipment company. In combination with our Datacon product portfolio, the addition of Esec significantly expands our share of the die bonding market, one of the most rapidly growing segments of the assembly equipment business. Based on most recent preliminary VLSI data for 2008, Esec and Besi combined would be the leading player in the die bonding market with a market share of approximately 21%. The acquisition further expands our market penetration of many key European, American and Asian global accounts including STMicroelectronics, STATS ChipPAC, Infineon, ASE, SPIL, UTAC and Fairchild. It also adds a line of leading edge wire bonding equipment to our system portfolio and increases our exposure to key Taiwanese and Chinese assembly subcontractors. Finally, the combination with Esec and the scale resulting therefrom will enable us to leverage our "One Besi" concept as a means of achieving incremental cost reductions within the global organization."
Oerlikon CEO Dr. Uwe Krüger said: "The successful completion of this divestiture marks an important milestone for Oerlikon in streamlining its portfolio around the core competencies in applications for thin film and coating. The smooth integration of Besi and Esec with its outstanding products and technologies will further improve the joined company's competitiveness in the future."
Subsequent to the acquisition, Besi intends to retain the Esec brand name and offer its products as part of its global product portfolio of assembly equipment. In addition, the Company will develop and execute plans to realize synergies from the Esec acquisition by (i) utilizing Besi's Asian manufacturing operations and global supply chain network, (ii) integrating and coordinating research and development activities with Besi's Datacon die bonding activities, (iii) leveraging the respective resources of the combined sales and customer support networks and (iv) sharing and coordinating global IT and general and administrative functions.
Founded in 1968, Esec is a leading global manufacturer of die bonding equipment for the semiconductor, telecommunications and smart card industries based in Cham, Switzerland. It also manufactures and services wire bonding systems from its Singapore assembly facility. Esec has an estimated installed base in excess of 9,000 systems at customer locations worldwide. Customers are principally global semiconductor manufacturers and Asian subcontractors. It had approximate sales of € 80 million in 2008 and employed 515 people at December 31, 2008.
BE Semiconductor Industries N.V. designs, develops, manufactures, markets and services die sorting, flip chip and multi-chip die bonding, packaging and plating equipment for the semiconductor industry's assembly operations. Its customers consist primarily of leading U.S., European and Asian semiconductor manufacturers, assembly subcontractors and industrial companies which utilize its products for both array connect and conventional leadframe manufacturing processes. For more information about Besi, please visit our website at www.besi.com.
Richard W. Blickman Jan Willem Ruinemans President & CEO Chief Financial Officer Tel. (31) 26 319 4500 Tel. (31) 26 319 4500
European IR contact:
Uneke Dekkers / Frank Jansen Citigate First Financial Tel. (31) 20 575 4021 / 24
Oerlikon (SIX: OERL) is one of the world's leading international high-tech industrial groups specializing in machine and plant engineering. The company is a leader in the field of industrial solutions and innovative technologies for textile manufacture, thin-film solar and thin-film coating, drive, precision and vacuum systems. With roots in Switzerland and a long tradition stretching back 100 years, Oerlikon is a global player with a workforce of almost 18,500 at 180 locations in 37 different countries. The company's sales amounted to CHF 4.8 billion in 2008 and it ranks either first or second in the respective global markets.
Burkhard Böndel Corporate Communications Phone +41 58 360 96 02 Fax +41 58 360 91 93 [email protected] www.oerlikon.com
Frank Heffter Corporate Investor Relations Phone +41 58 360 96 22 Fax +41 58 360 91 93 [email protected] www.oerlikon.com
[email protected] [email protected]
This press release contains statements about management's future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including , but not limited to, statements relating to expectations of orders, net sales, product shipments, backlog, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as "anticipate", "estimate", "expect", "can", "intend", "believes", "may", "plan", "predict", "project", "forecast", "will", "would", and similar expressions are intended to identify forward looking statements, although not all forward looking statements contain these identifying words. The financial guidance set forth under the heading "Outlook" constitute forward looking statements. While these forward looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward looking statements, including our inability to maintain continued demand for our products, the impact of the worldwide economic downturn on our business, failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; failure to adequately decrease costs and expenses as revenues decline, loss of significant customers, lengthening of the sales cycle, incurring additional restructuring charges in the future, acts of terrorism and violence; risks, such as changes in trade regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; those additional risk factors set forth in Besi's annual report for the year ended December 31, 2007 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forwardlooking statements whether as a result of new information, future events or otherwise.
Nederlandse toelichting bij Engelstalig persbericht d.d. 2 april 2009, waarbij de Engelse tekst leidend is. Zie Engelstalig persbericht voor "Caution Concerning Forward Looking Statements".
BE SEMICONDUCTOR INDUSTRIES N.V. Ratio 6 6921 RW Duiven
Duiven, 2 april 2009, BE Semiconductor Industries N.V. ("Besi") (Euronext: BESI), een toonaangevende leverancier van assemblagemachines voor de halfgeleiderindustrie, kondigt vandaag de overname aan van 100% van de aandelen van Oerlikon Assembly Equipment AG en bepaalde activa en dochterondernemingen, welke als geheel de business unit ("Esec") van OC Oerlikon Corporation AG ("Oerlikon") vormt. Besi betaalt als koopprijs aan Oerlikon 2,8 miljoen van haar ingekochte aandelen, 8,3% van de totaal uitstaande aandelen.
Richard W. Blickman, President en Chief Executive Officer van Besi lichtte de transactie toe: "De aankoop van Esec levert ons een aanvullend productenportfolio, dat uitstekend past bij onze ambitie om wereldwijd marktleider te worden voor halfgeleider assemblagemachines. Door de combinatie met Besi's Datacon productenportfolio zal deze acquisitie ons marktaandeel voor die bonding machines, een van de sterkst groeiende marktsegmenten van assemblagemachines, significant verhogen. Gebaseerd op de meest recente voorlopige VLSI gegevens over 2008, zouden Esec en Besi samen de toonaangevende leider zijn in de die bonding markt, met een marktaandeel van 21%. Door de acquisitie zal onze positie bij veel Europese, Amerikaanse en Aziatische klanten zoals STMicroelectronics, STATS ChipPAC, Infineon, ASE, SPIL, UTAC en Fairchild aanzienlijk verbeteren. Tevens wordt een toonaangevende productlijn wire bonding machines aan ons portfolio toegevoegd en zal daarmee onze positie bij belangrijke Taiwanese- en Chinese assemblagebedrijven vergroten. Ten slotte, de combinatie van Besi met Esec zal schaalvoordelen opleveren die ons in staat stellen het One Besi concept verder invulling te geven met als resultaat additionele kostenbesparingen."
Dr. Uwe Krüger, CEO van Oerlikon, lichtte toe: "De succesvolle voltooiing van deze transactie is voor Oerlikon een belangrijke mijlpaal voor wat betreft het stroomlijnen van de portfolio rondom de kernvaardigheden in thin film en coating toepassingen. De integratie van Besi en Esec met hun uitstekende producten en technologieën zal het concurrentievermogen van de samengevoegde bedrijven in de toekomst verbeteren."
De Esec merknaam blijft gehandhaafd en de Esec producten zullen met de andere Besi producten wereldwijd in de halfgeleider assemblage markt worden aangeboden. Besi zal direct plannen ontwikkelen en uitvoeren om mogelijke synergieën te realiseren op het gebied van (i) gebruikmaken van Besi's Aziatische productievestigingen en wereldwijd netwerk van toeleveranciers, (ii) integreren en coördineren van R&D en productontwikkelingsinspanningen voornamelijk met de Datacon die bonding organisatie, (iii) kosten besparen en effectiviteit te verhogen door de combinatie van de Esec en Besi verkoop- en klanten service organisaties en (iv) het samenvoegen en coördineren van wereldwijd IT en algemene en administratieve taken.
Esec, gevestigd te Cham, Zwitserland en opgericht in 1968, is een wereldwijd toonaangevende leverancier van die bonding machines voor de halfgeleiderindustrie en smart card industrie. Esec levert ook wire bonding machines, vanuit de vestiging in Singapore. Wereldwijd zijn meer dan 9.000 machines bij klanten geïnstalleerd. Esec's klanten bestaan uit halfgeleiderfabrikanten over de gehele wereld en Aziatische subcontractors. De omzet bedroeg in 2008 ongeveer € 80 miljoen en per 31 december 2008 waren er 515 medewerkers in dienst.
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