Amtech Systems, Inc. (NASDAQ: ASYS), a global supplier of production and automation systems and related supplies for the manufacture of solar cells, semiconductors, and sapphire and silicon wafers, today announced that its Board of Directors has approved the company’s application to the Securities and Exchange Commission (the “Commission”) for an order granting the immediate withdrawal of its $60 million shelf registration statement on Form S-3 (Registration No. 333-172115), which was originally filed with the Commission on February 8, 2011.
J.S. Whang, Chief Executive Officer of Amtech, commented, "With our current healthy cash balance, we believe we have adequate cash resources to manage our current operations and continue executing on our strategic objectives, which include further improvements to our core solar diffusion technology, exploiting our N-type cell technology, developing our solar ion implant solution, and continuing our historically successful acquisition efforts. This is a time of opportunity and we remain committed to achieving these objectives."
About Amtech Systems, Inc.
Amtech Systems, Inc. manufactures capital equipment, including silicon wafer handling automation, thermal processing equipment and related consumables used in fabricating solar cells, LED and semiconductor devices. Semiconductors, or semiconductor chips, are fabricated on silicon wafer substrates, sliced from ingots, and are part of the circuitry, or electronic components, of many products including solar cells, computers, telecommunications devices, automotive products, consumer goods, and industrial automation and control systems. The Company’s wafer handling, thermal processing and consumable products currently address the diffusion, oxidation, and deposition steps used in the fabrication of solar cells, semiconductors, MEMS and the polishing of LEDs and newly sliced silicon wafers.
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