INFICON Acquires Electro Dynamics Crystal Corp.
Acquisition Strengthens INFICON Position in Vacuum Coating for Optics and Display Markets
Syracuse, New York/Zurich, Switzerland — February 28, 2006 — INFICON (SWX Swiss Exchange: IFCN), a leading manufacturer of instrumentation and process control software for the semiconductor and vacuum-coating industries and other industrial applications, has acquired substantial assets of Electro Dynamics Crystal Corp. (EDC), a premier manufacturer of quartz-based products.
Lukas Winkler, president and chief executive officer, commented, “Increasing demand for displays for mobile phones, computers, digital cameras and other consumer electronics, as well as wireless communications and other technologies, demonstrates we can expect increasing demand for competitively priced quartz-based products. Our acquisition of EDC will boost our position in the optical coating and display markets, already an important area for INFICON.
“The acquisition, which will be accretive for the fiscal year 2006, provides INFICON with a significant competitive advantage through supply chain vertical integration. We will now manufacture and sell the quartz crystal resonators that are essential to the manufacture of quartz crystal products used in thin film monitoring and control instruments. We will also offer a complete line of oscillator products for telecommunications networks, wireless products and electronic testing equipment.
“We are excited about our acquisition of EDC not only because of the potential for expanding our position in this important market but also because of our shared business philosophy. EDC has served as an excellent supplier to INFICON for many years, and we know first-hand that our two companies are aligned in our emphasis on providing superior products and service to our customers.”
Founded in 1963, EDC is located in Overland Park, Kansas and has approximately 60 employees. Tim Abbott, previously president of EDC, will be president of INFICON EDC Inc.
Terms of the transaction were not disclosed.
ABOUT INFICON
INFICON is a leading developer, manufacturer and supplier of innovative instrumentation, critical sensor technologies, and advanced process control software for the semiconductor and vacuum-coating industries and other industrial applications. These analysis, measurement and control products are vital to original equipment manufacturers (OEMs) and end-users in the complex manufacturing of semiconductors, flat panel displays, magnetic and optical storage media and precision optics. INFICON also provides essential instrumentation for gas leak detection to the air conditioning/refrigeration industries and toxic chemical analysis for the emergency response and security markets. Headquartered in Syracuse, New York, INFICON has world-class manufacturing facilities in the United States and Europe and worldwide offices in the U.S., China, France, Germany, Japan, Korea, Liechtenstein, Singapore, Switzerland, Taiwan, and the United Kingdom. INFICON is a publicly listed company, registered with the Swiss Stock Exchange (SWX). For more information about INFICON and its products, please visit www.inficon.com.
This press release and oral statements or other written statements made, or to be made, by us contain forward-looking statements that do not relate solely to historical or current facts. Forward looking statements can be identified by the use of words such as “may”, “believe”, “will”, “expect”, “project”, “assume”, “estimate”, “anticipate”, “plan”, “continue”, "resumes", "opportunity," "potential”, “outlook”, “forecast” or “guidance." These forward-looking statements address, among other things, our strategic objectives, trends in vacuum technology and in the industries that employ vacuum instrumentation, such as the semiconductor and related industries and the anticipated effects of these trends on our business. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition. Some of these risks and uncertainties are discussed in the Company’s Half-year Report for fiscal 2005. As a consequence, our current and anticipated plans and our future prospects, results of operations and financial condition may differ from those expressed in any forward-looking statements made by or on behalf of our company. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.