Home > Press > SPP Proposes Offer to Shareholders to Buy Back Control of STS
Abstract:
Surface Technology Systems plc (STS) today announced that Sumitomo Precision Products Co., Ltd (SPP), who currently owns 63% of STS' shares, officially put forward an offer to the other shareholders to buy back shares and regain control of the Company. SPP has stated its intention, subject to the level of acceptances of the offer, to seek to cancel the trading of the shares on the London Stock Exchange , and to re-register STS as a private company.
SPP Proposes Offer to Shareholders to Buy Back Control of STS
NEWPORT, UK | Posted on August 24th, 2007
Commenting on the offer Hisao Shiotani, Executive Vice President of Sumitomo Precision Products Co., Ltd said, "The SPP Directors believe there are considerable benefits to STS, such as enhanced critical mass and financial resources, in it being developed and funded as a wholly owned subsidiary and privately traded business."
As the former parent company of STS, SPP understands the company, their markets and their customers' requirements. They offer a wealth of industry experience and financial security which will allow STS to continue to improve their products and customer service.
Enquiry levels for the Pegasus system and the new 300mm tool remain encouraging, especially from worldwide production customers, and the Directors believe that the long term demand for the type of systems produced by STS will continue to grow.
Commenting on the offer Nigel Randall, Non-Executive Chairman of Surface Technology Systems plc said, "The Independent Directors now believe the future development of the Company's business will be better facilitated as a private company and as a wholly owned subsidiary of SPP."
Building on a firm base of technology accumulated over many years, SPP has expanded from its core field of aerospace products into more diverse areas such as equipment for semiconductor production, heat exchangers, industrial machinery employing hydraulic control and cryopumps. The company is headquartered in Japan with sales offices in many parts of the world. SPP is listed on the Tokyo Stock Exchange and as at 23 August 2007 had a market capitalisation of Yen29.72 billion (GBP130.50 million).
This press announcement is for information only, and not intended to, and does not constitute or form any part of, an offer or an invitation to purchase any securities or the solicitation of any vote or approval in any jurisdiction (including the USA) pursuant to the Offer or otherwise.
####
About Surface Technology Systems plc (STS)
STS designs and manufactures a range of highly specialized systems incorporating innovative technology used in the production of semiconductors and related devices and is a leader in plasma based etch and deposition technologies for processing non 'mainstream' semiconductor devices. STS serves a range of applications in several emerging sectors within the telecommunications, data storage, advanced packaging, MEMS and Nanotechnology.
STS is the market leader in deep silicon etching for the growing MEMS market, offering patent-protected technology. In addition, STS has a strong presence in each of its other served markets and distributes its process solutions worldwide through an experienced sales and service operation. The Group currently markets in over 30 countries and has an installed base of over 900 systems.
For more information, please click here
Contacts:
STS plc
Imperial Park
Newport
NP10 8UJ
UK
Telephone Number 44 1633 652400
Fax Number 44 1633 652405
Copyright © PR Newswire Association LLC.
If you have a comment, please
Contact us.
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Bookmark:
Chip Technology
Imec and GLOBALFOUNDRIES collaborate to advance high-density memory technology: STT-MRAM offers enhanced performance and scalability for embedded and standalone applications May 21st, 2013
Penn engineers' nanoantennas improve infrared sensing May 20th, 2013
UC Riverside scientists discovering new uses for tiny carbon nanotubes: Adding ionic liquid to nanotube films could build smaller gadgets, and create more cost effective 'Smart Windows' that darken in bright sun May 15th, 2013
Nanometrics Announces Upcoming Investor Events May 14th, 2013
Announcements
UofL scientists uncover how grapefruits provide a secret weapon in medical drug delivery May 22nd, 2013
Atomic-Scale Investigations Solve Key Puzzle of LED Efficiency: MIT and Brookhaven Lab scientists use electron microscopy imaging techniques to settle a solid-state controversy and raise new experimental possibilities May 22nd, 2013
Single-Cell Transfection Tool Enables Added Control for Biological Studies: McCormick researchers develop method of delivering molecules into targeted cells May 22nd, 2013
Rice unveils method for tailoring optical processors: Arranging nanoparticles in geometric patterns allows for control of light with light May 21st, 2013
Tools
Atomic-Scale Investigations Solve Key Puzzle of LED Efficiency: MIT and Brookhaven Lab scientists use electron microscopy imaging techniques to settle a solid-state controversy and raise new experimental possibilities May 22nd, 2013
Xmark Media announces the 2013 Vacuum Expo & Vacuum Symposium, Ricoh Arena - Coventry 16-17 October May 21st, 2013
JPK reports on single molecule research at IISER Pune in India using AFM and CellHesion techniques May 21st, 2013
Penn engineers' nanoantennas improve infrared sensing May 20th, 2013
Acquisitions/Mergers/Splits
Mincom Capital Inc. and Group Nanoxplore Inc. Sign Letter of Intent for a Qualifying Transaction April 10th, 2013
SUNY NanoCollege and Children's Museum of Science and Technology Announce Agreement for CMOST to Become Part of CNSE: Under CNSE’s leadership, museum will be transformed into a flagship science center to educate in the emerging 21st century science and engineering disciplines February 6th, 2013
Lumineq plant now world’s largest ALD-enabled product factory February 4th, 2013
Nanostart AG reorganizes Asia business: Focus on Asian markets - Launch of 100-percent subsidiary February 4th, 2013