© mikael damkier dreamstime.com Components | October 27, 2014
Amtech to acquire BTU International
Amtech Systems and BTU International have entered into a definitive merger agreement under which Amtech will acquire all the outstanding stock of BTU in an all-stock transaction.
The addition of BTU supports Amtech's business model of growth through strategic acquisitions. Amtech expand's its technology portfolio in adjacent markets with the acquisition, which in turn creates a strong platform to drive the growth of its solar business "With the addition of BTU, Amtech will have a more diversified and profitable revenue base, allowing us to better scale production and distribution of our solar technology to meet accelerating demand for next-generation technology solutions," said J.S. Whang, executive chairman of Amtech. "The combination with BTU further enhances our position as a leading, global supplier of solar and semiconductor production and automation systems. BTU provides Amtech with complementary thermal processing technologies in the semiconductor, electronics and solar sectors, and strengthens our footprint in China and other key geographic markets with attractive growth trends," said Fokko Pentinga, chief executive officer of Amtech. "Our shared focus on service, innovation and quality will further strengthen our highly respected market-brands and enhance our ability to serve our customers. We look forward to welcoming the talented and dedicated BTU team to the Amtech family, where together we will achieve new levels of growth, innovation and service." "This transaction brings significant benefits to our clients, employees and stockholders," said Paul J. van der Wansem, chairman and chief executive officer of BTU. "We are confident that our customers and employees will benefit from the larger scale, broadened product portfolio and greater geographic reach of the combined company. The transaction also enables BTU stockholders to participate in the significant growth prospects of the combined company. Amtech and BTU are proven industry leaders in their respective products and markets and together we will continue to build on the solid momentum our team worked so hard to create." Following the transaction's close (expected to close in the first quarter of 2015), Amtech expects to maintain BTU's presence in existing locations, including North Billerica, Massachusetts and Shanghai, China. Paul J. van der Wansem will join the Amtech management executive committee. Peter Tallian, chief operating officer of BTU, will be the general manager of the BTU International division.
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