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Amtech sells SoLayTec solar business, negotiating Tempress deal

SoLayTec's InPassion ALD machine. Source: SoLayTec

July 1 (Renewables Now) - US capital equipment manufacturer Amtech Systems Inc (NASDAQ:ASYS) has sold its SoLayTec solar machinery business and is holding talks with parties interested in buying Dutch diffusion furnace systems maker Tempress.

Amtech announced the sale of SoLayTec on Friday, without disclosing the name of the buyer. It said that it anticipates to report a gain on the sale this quarter and lower losses from discontinued operations as from the fourth fiscal quarter.

SoLayTec is active in the development, supply and servicing of machines for atomic layer deposition (ALD) on solar cells. Its divestment is the first step in Amtech’s previously announced plan to offload its entire solar segment, including the Tempress business.

Also on Friday, J S Whang, executive chairman and CEO of Amtech, commented that Dutch firm Oaklins SmallCap Adivsory BV is consulting the company when it comes to the planned sale of Tempress Holding BV.

“Today, we are pleased to report that Oaklins is actively engaged in conversations with both private equity and strategic buyers,” Whang added.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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