Amtech Systems plans to divest its solar businesses
Amtech Systems, a manufacturer of capital equipment and consumables used in fabricating semiconductor devices, LEDs, SiC and silicon power chips ans well as solar cells, is planning to sell its solar businesses.
The company’s Board of Directors have decided to focus solely on growth opportunities in the company's semiconductor and SiC/LED polishing businesses and intend to sell its solar businesses, including its Tempress and SoLayTec subsidiaries. "In November 2018 we announced that we had initiated a comprehensive review of our solar businesses. In a February update we noted thus far our review strongly indicates that our combined Semi and SiC/LED polishing business provide better markets for enhancing the value of Amtech Group,” says Amtech's J.S. Whang, Chairman and Chief Executive Officer, in a press release. “We have recently completed our assessment and conclude, along with Tempress and SoLayTec management, that significant investment is required to effectively compete in the changing solar industry. We therefore conclude Tempress and SoLayTec would be better positioned to capitalize on opportunities in the solar industry under new ownership," J.S. Whang continues.