Genus Shareholders Approve Acquisition by Merger With AIXTRON
March 10 2005 - 9:47PM
PR Newswire (US)
Genus Shareholders Approve Acquisition by Merger With AIXTRON
SUNNYVALE, Calif., March 10 /PRNewswire-FirstCall/ -- Genus Inc., a
leading provider of thin film deposition equipment for the
semiconductor and data storage industries, announced today that the
merger with AIXTRON AG, a leading provider of equipment for
compound semiconductor epitaxy, has been completed pursuant to the
laws of the State of California. The shareholders of Genus, at a
special meeting held on March 10, 2005, approved the merger with a
majority of approximately 61 percent of the Genus outstanding
shares entitled to vote at the meeting. Of the shareholders who
voted, 94 percent were in favor of the transaction. The American
Depositary Shares (ADS) to be issued in the merger to former Genus
shareholders will commence trading on NASDAQ on March 11, 2005.
Genus shareholders will receive 0.51 AIXTRON ADS in exchange for
each Genus share. The AIXTRON ordinary shares underlying the ADS
are also expected to be admitted for trading next week at the
Frankfurt Stock Exchange following the registration of a share
capital increase of AIXTRON which was approved during AIXTRON's
extraordinary shareholders meeting held on September 30, 2004.
Commenting on the merger, Paul Hyland, CEO of AIXTRON AG, said, "We
are delighted that the Genus shareholders voted in favor of the
transaction. By combining the two companies we are creating one of
the world's premier suppliers of advanced deposition technologies
for the semiconductor industry. This transaction enables us to
leverage the two companies' complementary strengths and gain the
critical mass required to successfully compete in both the compound
semiconductor and semiconductor equipment industries." "We would
like to thank all of our shareholders for their support on this
very important strategic move," commented Bill Elder, chairman and
CEO of Genus. "In the combined companies' position portfolio,
AIXTRON's leading MOCVD equipment for the production of LEDs, high
frequency chips and lasers, and in particular their ALD technology,
will nicely complement Genus' leading-edge ALD technology, which is
required in the production of advanced semiconductors and hard disc
drives." Forward-Looking Statements This news release may contain
forward-looking statements about the business, financial condition,
results of operations and earnings outlook of AIXTRON within the
meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Words such as
"may," "will," "expect," "anticipate," "contemplate," "intend,"
"plans," "believe," "continue" and "estimate," and variations of
these words and similar expressions, identify these forward-looking
statements. These statements are not guarantees of future
performance, involve certain risks, uncertainties and assumptions
that are difficult to predict, and are based upon assumptions as to
future events that may not prove accurate. Therefore, actual
outcomes and results may differ materially from what is expressed
herein. In any forward-looking statement in which AIXTRON expresses
an expectation or belief as to future results, such expectation or
belief is expressed in good faith and believed to have a reasonable
basis, but there can be no assurance that the statement or
expectation or belief will result or be achieved or accomplished.
Actual operating results may differ materially from such
forward-looking statements and are subject to certain risks,
including risks arising from: actual customer orders received by
AIXTRON; the extent to which metal-organic chemical vapor
deposition, or MOCVD, technology is demanded by the market place;
the timing of final acceptance of products by customers; the
financial climate and accessibility of financing; general
conditions in the thin film equipment market and in the
macro-economy; cancellations, rescheduling or delays in product
shipments; manufacturing capacity constraints; lengthy sales and
qualification cycles; difficulties in the production process;
changes in semiconductor industry growth; increased competition;
exchange rate fluctuations; availability of government funding;
variability and availability of interest rates; delays in
developing and commercializing new products; general economic
conditions being less favorable than expected; and other factors.
The forward-looking statements contained in this news release are
made as of the date hereof and AIXTRON does not assume any
obligation to (and expressly disclaims any such obligation to)
update the reasons why actual results could differ materially from
those projected in the forward-looking statements. Any reference to
the Internet website of AIXTRON is not an incorporation by
reference of such information in this news release, and you should
not interpret such a reference as an incorporation by reference of
such information. Additional Information For additional information
about factors that could affect our future financial and operating
results, see our filings with the Securities and Exchange
Commission, including the Registration Statement on Form F-4
(Regis.No. 333-122624) filed with the Commission on February 8,
2005 and available at the Commission's website at
http://www.sec.gov/. Prior to the merger with AIXTRON, Genus traded
on NASDAQ under the symbol GGNS. DATASOURCE: Genus, Inc. CONTACT:
media, Trine Pierik of Positio Public Relations, Inc.,
+1-408-453-2400, for Genus, Inc.; or Shum Mukherjee of Genus, Inc.,
+1-408-747-7140 Web site: http://www.genus.com/
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