EX-99.1
5
v211473_ex99-1.htm
Tegal
Corporation
2201 S. McDowell Blvd., Petaluma,
CA 94954 [T] (707) 763-5600 [F] (707)
765-9311
www.tegal.com
TEGAL
SELLS DRIE ASSETS TO SPTS
Tegal's
focus now exclusively on Green Energy
PETALUMA, Calif., February 9, 2011
-
Tegal Corporation
, (Nasdaq: TGAL)
today announced the sale of its Deep Reactive Ion Etch (DRIE) and certain
related assets to SPP Process Technology Systems Ltd (SPTS). Tegal
will receive aggregate consideration of approximately $2.1 million, including
$1.6 million in cash and the assumption by SPTS of approximately $0.5 million of
short-term liabilities. The deal includes the transfer to SPTS of the
capital stock and operations of Tegal France SAS, a wholly-owned Tegal
subsidiary formed following the acquisition in September 2008 by Tegal of the
DRIE assets of Alcatel Micro Machining Systems.
Tegal
sold to SPTS the Tegal 200™, 110™, 3200™ and 4200™ series DRIE products,
along with its Compact™ and Pluto development assets, intellectual property and
process know-how. SPTS will provide continued global support to
existing Tegal DRIE customers, and will integrate these technologies
into its broad range of product offerings in etch, deposition and thermal
technologies which it offers to its customers
worldwide.
"The sale
of the DRIE product lines to SPTS represents another major step in Tegal's
transformation. We recently announced our participation in the
formation of sequel Power, a company dedicated to the development and
operation of large scale photovoltaic (PV)-based solar utilities in the
United States, Latin America, the Middle East and Africa. From
this platform, we intend to build additional operations and make further
investments as we transition from being a supplier of semiconductor capital
equipment to pursuing a leading role in green energy", said Thomas Mika,
President and CEO, Tegal Corporation. "The sale of the DRIE assets to
SPTS ensures a smooth transition of our technology, team members, active joint
development projects in France, and our commitments to customers
globally."
"This
acquisition enhances the DRIE product portfolio SPTS offers to our served
markets, broadens our customer base, and expands our ability to deliver world
class DRIE solutions to our global customers", said William Johnson, President
and Chief Executive Officer of SPTS. "We expect to enhance support to Tegal
customers through our worldwide support network, and intend to continue the
leading-edge development efforts of the former Tegal team in Annecy,
France.
Safe
Harbor Statement
Except
for historical information, matters discussed in this news release contain
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements, which are based on assumptions and describe our
future plans, strategies and expectations, are generally identifiable in some
instances by the use of the words "anticipate", "believe", "estimate", "expect,"
"intend", "project" or similar expressions. These forward-looking
statements are subject to risks, uncertainties and assumptions, including, but
not limited to industry conditions, economic conditions, acceptance of new
technologies and market acceptance of products and services. All
forward-looking statements attributable to Tegal Corporation or persons acting
on its behalf are expressly qualified in their entirety by the cautionary
statements in this paragraph. For a further discussion of these risks and
uncertainties, please refer to Tegal's periodic filings with the Securities and
Exchange Commission.
Tegal-SPTS
Release 9 February 2011
2-2-2
About
Tegal Corporation
Tegal is
dedicated to the development and application of both proven and emerging
technologies in the field of green energy. Through sequel Power,
Tegal is engaged in the promotion of solar power plant development projects
worldwide, the development of self-sustaining businesses from such projects,
including supporting, developing, building and operating solar photovoltaic
fabrication facilities and solar farms and other non-PV based renewable energy
projects. Headquartered in Petaluma, California, the company has
more than 35 years of semiconductor capital equipment expertise and innovation
in specialized technologies. Please visit us on the web at
www.Tegal.com
.
About
SPP Process Technology Systems
SPP
Process Technology Systems was established in October 2009 as the vehicle for
the merger of Surface Technology Systems and acquired assets of Aviza
Technology. The company is a wholly-owned subsidiary of Sumitomo
Precision Products Co., Ltd, and designs, manufactures, sells, and supports
advanced semiconductor capital equipment and process technologies for the global
semiconductor industry and related markets. These products are used
in a variety of market segments, including R&D, data storage, MEMS and
nanotechnology, advanced 3-D packaging, LEDs, and power integrated circuits for
communications.
For more
information about SPTS, please visit
www.spp-pts.com
Tegal
Contact
Thomas
Mika
President
& CEO
Tel: +1
707 765-5630
Email:
tmika@tegal.com
or
The
Blueshirt Group
Chris
Danne
Tel: +1
415 217-7722
SPTS
Contact
Evelyn
Tay, Corporate Marketing
SPP
Process Technology Systems
Ph: (+65)
8383 0393
Email:
evelyn.tay@spp-pts.com
##

EX - 99 . 1 5 v211473 _ ex99 - 1 . htm Tegal Corporation 2201 S. McDowell Blvd. , Petaluma , CA 94954 [ T ] ( 707 ) 763 - 5600 [ F ] ( 707 ) 765 - 9311 www.tegal.com TEGAL SELLS DRIE ASSETS TO SPTS Tegal 's focus now exclusively on Green Energy PETALUMA , Calif . , February 9 , 2011 - Tegal Corporation , ( Nasdaq : TGAL ) today announced the sale of its Deep Reactive Ion Etch ( DRIE ) and certain related assets to SPP Process Technology Systems Ltd ( SPTS ) . Tegal will receive aggregate consideration of approximately $ 2.1 million , including $ 1.6 million in cash and the assumption by SPTS of approximately $ 0.5 million of short - term liabilities . The deal includes the transfer to SPTS of the capital stock and operations of Tegal France SAS , a wholly - owned Tegal subsidiary formed following the acquisition in September 2008 by Tegal of the DRIE assets of Alcatel Micro Machining Systems . Tegal sold to SPTS the Tegal 200 ™ , 110 ™ , 3200 ™ and 4200 ™ series DRIE products , along with its Compact ™ and Pluto development assets , intellectual property and process know - how . SPTS will provide continued global support to existing Tegal DRIE customers , and will integrate these technologies into its broad range of product offerings in etch , deposition and thermal technologies which it offers to its customers worldwide . " The sale of the DRIE product lines to SPTS represents another major step in Tegal 's transformation . We recently announced our participation in the formation of sequel Power , a company dedicated to the development and operation of large scale photovoltaic ( PV ) - based solar utilities in the United States , Latin America , the Middle East and Africa . From this platform , we intend to build additional operations and make further investments as we transition from being a supplier of semiconductor capital equipment to pursuing a leading role in green energy " , said Thomas Mika , President and CEO , Tegal Corporation . " The sale of the DRIE assets to SPTS ensures a smooth transition of our technology , team members , active joint development projects in France , and our commitments to customers globally . " " This acquisition enhances the DRIE product portfolio SPTS offers to our served markets , broadens our customer base , and expands our ability to deliver world class DRIE solutions to our global customers " , said William Johnson , President and Chief Executive Officer of SPTS . " We expect to enhance support to Tegal customers through our worldwide support network , and intend to continue the leading - edge development efforts of the former Tegal team in Annecy , France . Safe Harbor Statement Except for historical information , matters discussed in this news release contain forward - looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 . Forward - looking statements , which are based on assumptions and describe our future plans , strategies and expectations , are generally identifiable in some instances by the use of the words " anticipate " , " believe " , " estimate " , " expect , " " intend " , " project " or similar expressions . These forward - looking statements are subject to risks , uncertainties and assumptions , including , but not limited to industry conditions , economic conditions , acceptance of new technologies and market acceptance of products and services . All forward - looking statements attributable to Tegal Corporation or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this paragraph . For a further discussion of these risks and uncertainties , please refer to Tegal 's periodic filings with the Securities and Exchange Commission . Tegal - SPTS Release 9 February 2011 2 - 2 - 2 About Tegal Corporation Tegal is dedicated to the development and application of both proven and emerging technologies in the field of green energy . Through sequel Power , Tegal is engaged in the promotion of solar power plant development projects worldwide , the development of self - sustaining businesses from such projects , including supporting , developing , building and operating solar photovoltaic fabrication facilities and solar farms and other non - PV based renewable energy projects . Headquartered in Petaluma , California , the company has more than 35 years of semiconductor capital equipment expertise and innovation in specialized technologies . Please visit us on the web at www.Tegal.com . About SPP Process Technology Systems SPP Process Technology Systems was established in October 2009 as the vehicle for the merger of Surface Technology Systems and acquired assets of Aviza Technology . The company is a wholly - owned subsidiary of Sumitomo Precision Products Co . , Ltd , and designs , manufactures , sells , and supports advanced semiconductor capital equipment and process technologies for the global semiconductor industry and related markets . These products are used in a variety of market segments , including R & D , data storage , MEMS and nanotechnology , advanced 3 - D packaging , LEDs , and power integrated circuits for communications . For more information about SPTS , please visit www.spp-pts.com Tegal Contact Thomas Mika President & CEO Tel : + 1 707 765 - 5630 Email : tmika@tegal.com or The Blueshirt Group Chris Danne Tel : + 1 415 217 - 7722 SPTS Contact Evelyn Tay , Corporate Marketing SPP Process Technology Systems Ph : ( + 65 ) 8383 0393 Email : evelyn.tay@spp-pts.com # #