Amtech Systems Buys Majority Stake In SoLayTec - Quick Facts

(RTTNews) - Amtech Systems Inc. (ASYS) announced its subsidiary, Tempress Group Holding, B.V., has acquired a majority ownership interest in SoLayTec, B.V., located in Eindhoven, The Netherlands, from RENA.

SoLayTec provides atomic layer deposition (ALD) systems used in high efficiency solar cells, including current and next generation structures such as p-type PERC and n-type.

The acquisition was made with cash and SoLayTec is expected to contribute modestly to revenue and earnings in fiscal 2015, with significant growth expected in 2016.

Fokko Pentinga, Chief Executive Officer of Amtech, said, "......As part of the transaction, we will continue to cooperate on technology with RENA and their wet chemical processes. With these synergies we expect a highly efficient integration process and a solid platform for our combined companies to successfully participate in the upcoming PERC market and accelerate SoLayTec's growth in 2015 and beyond in support of Amtech's solar growth strategy."