News in brief: ATMI, Tegal, Sirenza and Luxtron
Hidden away in ATMI’s SEC form 10-Q filing covering its first quarter 2003 financial performance was an indication of the price it received for the sale of its GaAs epiwafer business. Under the Restructuring Charges and Other Items was the statement that “During the first quarter of 2003, the Company also recognized a $0.9 million gain on the sale of its GaAs epitaxial services business.” ATMI sold the business to Sumitomo Chemical, which formed a new company, Sumika Electronic Materials, to run the former ATMI operation in Phoenix, AZ.
Sirenza relocates its HQ to Colorado
Sirenza Microdevices of Sunnyvale, CA, has announced plans to relocate its corporate headquarters and all manufacturing operations to the Interlocken Technology Park in Broomfield, Colorado. The move, scheduled to be completed by July, follows Sirenza s recently completed purchase of Denver-based Vari-L Company.
Sirenza will lease approximately 74,000 square feet in two buildings in Interlocken, an advanced technology park located midway between Boulder and Denver. One building will serve as Sirenza s new corporate headquarters while the other will house manufacturing operations. Both buildings are undergoing significant upgrades at a total cost of approximately $1.2 million. The move will allow Sirenza to consolidate its manufacturing operations currently located in Sunnyvale, CA, and Tempe, AZ, and all four of Vari-L s former Denver facilities into a single complex. Total workforce at the new complex is expected to be between 190 and 210 people.
Tegal transfers to Nasdaq SmallCap market
Tegal Corporation a designer and manufacturer of plasma etch and deposition systems used in the production of ICs, has announced the transfer of the listing of its common stock to the Nasdaq SmallCap Market. The transfer was effective at the opening of trading on May 6. The company s continued listing on the Nasdaq SmallCap Market is contingent upon the successful completion of an application and review process.
At a special meeting of Tegal stockholders on April 26, the Board of Directors was given the authority to effect, should it elect to do so, a reverse split of the company s common stock within a range of two-for-one to fifteen-for-one. The timing and ratio of a reverse split, if any, is at the sole discretion of the Tegal Board of Directors.
Tegal Corporation currently meets all the continued inclusion requirements for listing on the Nasdaq SmallCap Market, except for the $1.00 minimum bid price per share requirement. The company’s stock has been below $1 per share since late July 2002. Tegal has a grace period until September 2, 2003, in which it can demonstrate compliance with the $1.00 minimum bid price per share. Additionally, the company may be eligible for an additional 90 day grace period provided that it meets the other continued listing criteria for the Nasdaq SmallCap Market.
Luxtron expands Japan distribution channel
Luxtron Corporation, a provider of in-situ fiber-optic temperature measurement equipment to the semiconductor and optoelectronics industries has appointed Pacific Western Systems Japan (PWSJ) as distributor for temperature products in the semiconductor and flat panel display industries.
The product portfolio includes Luxtron’s Fluoroptic line, used widely in plasma chamber, e-chuck, and backside wafer temperature control applications, and the TR-1000 sensor, used for optical film thickness and emissivity corrected temperature applications in CVD and MBE tools. In addition, PWSJ will distribute spare parts and provide service for Luxtron’s installed base of 1015 plasma etch and Optima 9325 CMP endpoint controllers in Japan.
