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 Press Release Asyst Technologies Completes Purchase of Additional Stake in Asyst Shinko
FREMONT, Calif., July 17, 2006 - Asyst Technologies, Inc., (Nasdaq: ASYT) today announced that, pursuant to the purchase agreement announced on June 22, 2006, it has completed the purchase from Shinko Electric Co., Ltd. of an additional 44.1% of the outstanding common stock of Asyst Shinko, Inc. (ASI), increasing its ownership in ASI to 95.1%. The company funded the transaction with approximately $20 million of cash and $84 million from its previously announced revolving credit and term loan facility. Asyst also has issued a letter of credit for approximately $11 million related to its option to purchase the remaining 4.9% of ASI beginning July 14, 2007. About Asyst Asyst Technologies, Inc. is a leading provider of integrated automation solutions that enable semiconductor and flat panel display (FPD) manufacturers to increase their manufacturing productivity and protect their investment in materials during the manufacturing process. Encompassing isolation systems, work-in-process materials management, substrate-handling robotics, automated transport and loading systems, and connectivity automation software, Asyst's modular, interoperable solutions allow chip and FPD manufacturers, as well as original equipment manufacturers, to select and employ the value-assured, hands-off manufacturing capabilities that best suit their needs. Asyst's homepage is http://www.asyst.com
Asyst is a registered trademark of Asyst Technologies, Inc. Asyst Shinko is a registered trademark of Asyst Shinko, Inc. All Rights Reserved. |
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