ASM COMPLETES ACQUISITION OF LPE
04 October 2022 - 03:00AM
ASM COMPLETES ACQUISITION OF LPE
Almere, The NetherlandsOctober 03,
2022, 6.00 p.m. CET
ASM International (Euronext Amsterdam:
ASM) today announces that it has completed the acquisition of LPE
S.p.A., after having received regulatory approvals.
On July 18, 2022, ASM entered into a definitive agreement under
which it would at closing acquire all of the outstanding shares of
LPE, an Italian based manufacturer of epitaxial reactors for
silicon carbide (SiC) and silicon. As announced in our press
release of July 18, 2022, the transaction is financed with a
combination of cash, a conditional earn out, and 631,154 ASM shares
(a combination of 580,000 treasury shares and 51,154 newly issued
shares).
The acquisition has been completed today, and LPE is now a
fully owned subsidiary and will operate as a product unit under
ASM’s Global Products organization.
“This is an important milestone for ASM. We are excited to
welcome LPE and its talented and experienced team into ASM,” said
Benjamin Loh, President and CEO of ASM. “Together with LPE we look
forward to capturing many of the opportunities in the high-growth
silicon carbide epitaxy market and to support our power electronics
customers with innovative solutions, driving the further
electrification of the automotive industry.” “I believe ASM is the
right partner for LPE, especially now looking at the growth we are
seeing in the silicon carbide market. The global reach that ASM has
with its entrenched supplier and customer networks will bring
benefits to all stakeholders,” said Franco Preti, who envisioned
the silicon carbide opportunity in the earliest stages and led LPE
growth as CEO until the acquisition.
LPE is profitable with margins in line with
ASM’s 2021-2025 target model. As announced earlier, LPE’s revenue
is projected to grow to more than €100 million in 2023, mainly
driven by its SiC epitaxy equipment business. Based on ASM internal
estimates, demand for SiC epitaxy equipment is forecasted to grow
at a CAGR in excess of 25% from 2021 to 2025, driven by the rapidly
expanding market for electric vehicles.
About ASM International
ASM International N.V., headquartered in Almere,
the Netherlands, and its subsidiaries design and manufacture
equipment and process solutions to produce semiconductor devices
for wafer processing, and have facilities in the United States,
Europe, and Asia. ASM International's common stock trades on the
Euronext Amsterdam Stock Exchange (symbol ASM). For more
information, visit ASM's website at www.asm.comCautionary Note
Regarding Forward-Looking Statements: All matters discussed in this
press release, except for any historical data, are forward-looking
statements. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. These include, but
are not limited to, economic conditions and trends in the
semiconductor industry generally and the timing of the industry
cycles specifically, currency fluctuations, corporate transactions,
financing and liquidity matters, the success of restructurings, the
timing of significant orders, market acceptance of new products,
competitive factors, litigation involving intellectual property,
shareholders or other issues, commercial and economic disruption
due to natural disasters, terrorist activity, armed conflict or
political instability, changes in import/export regulations,
epidemics and other risks indicated in the Company's reports and
financial statements. The Company assumes no obligation nor intends
to update or revise any forward-looking statements to reflect
future developments or circumstances.
This press release contains inside information within the
meaning of Article 7(1) of the EU Market Abuse Regulation.
CONTACT
Investor and media contact:Victor BareñoT: +31
88 100 8500 E: investor.relations@asm.com
- 20221003 ASM COMPLETES ACQUISITION OF LPE
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