Singulus Technologies AG announced that it has completed the sale of its HamaTech APE GmbH & Co. KG subsidiary to SÜSS MicroTec AG.
For more information visit: www.singulus.de
Unedited press release follows:
SINGULUS TECHNOLOGIES AG Sells HamaTech APE, Sternenfels
January 13, 2010
Kahl am Main, January 13, 2010 – SINGULUS TECHNOLOGIES (SINGULUS) announced the completion of the negotiations regarding the sale of the HamaTech APE GmbH & Co. KG (APE), a 100 % subsidiary of SINGULUS, to the SÜSS MicroTec AG (SÜSS). A relevant purchase agreement was signed by both parties yesterday night subject to consented closing conditions.
A purchase price in the amount of € 4.5 million for the APE enterprise as well as additional € 4.5 million for the acquisition of the land and buildings at the site in Sternenfels were agreed. The completion of the transaction (“Closing date”) is scheduled for January 2010. The purchase price of € 4.5 million for APE is split into fixed and variable components. The fixed component amounts to € 3.5 million and will be paid in cash. The variable purchase price (“Earn-out component”) amounts to € 1.0 million and is tied to the sales performance of HamaTech APE in 2010.
An extensive letter of intent regarding the acquisition of the HamaTech APE had already been signed on December 6, 2009 by the contractual parties SINGULUS and SÜSS.
HamaTech APE has established itself in the semi-conductor sector as the world’s leading supplier for the cleaning of photo masks and employs approximately 80 people at the site in Sternenfels and at foreign subsidiaries. In the business year 2009 the company realized estimated sales in the amount of € 11 million.