This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Amtech Completes Acquisition Of Ion Implant Technology Company

Amtech Systems, Inc. (NASDAQ: ASYS), a global supplier of production and automation systems and related supplies for the manufacture of solar cells, today announced it has completed its previously announced acquisition of 55% ownership of Kingstone Technology Hong Kong Limited, a Hong Kong-based holding company that owns 100% of Kingstone Semiconductor Company Ltd, a Shanghai-based technology company specializing in ion implant solutions for the solar and semiconductor industries.

J.S. Whang, Chief Executive Officer of Amtech, commented, “With completion of this acquisition, Amtech has established a technology beachhead in a strategically key region of the world, increased our technology expertise, and created a solid foundation for future opportunities for our solar business. The primary purpose for acquiring Kingstone’s ion implant technology is to provide our customers with a more complete solution for their future higher efficiency solar cell production. While ion implantation eliminates certain solar cell manufacturing steps, it still requires a diffusion furnace annealing step to repair the inherent damage to the silicon wafer during the ion implant process. Therefore, we believe ion implant and diffusion furnace technologies will compliment each other and largely grow together into the future market. And we believe the combination of Amtech’s leadership in solar diffusion and Kingtone’s expertise in ion implant technology creates the best opportunity for successful development of an ion implant machine for the solar market.”

As previously disclosed, for its 55% ownership, Amtech paid $5.5 million in the form of cash and stock and $4 million in the form of a contingent promissory note. The payments of up to $4 million pursuant to the contingent note are to be made to the acquired company and used to fund Kingstone Semiconductor’s development of a next generation solar ion implant machine. Amtech will have exclusive worldwide rights to sell and service any solar ion implant machine developed by Kingstone Semiconductor. Over the next two years, Amtech will provide additional funding for the development of the next generation solar ion implant machine.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs