Süss MicroTec AG: Divestment of Cascade- shares leads to an one- time tax free gain in the first quarter 2011 of 0.8 EUR million

Süss MicroTec AG: Divestment of Cascade- shares leads to an one- time tax free gain in the first quarter 2011 of 0.8 EUR million


Süss MicroTec AG / Key word(s): Miscellaneous

07.03.2011 / 10:47

PRESS RELEASE

SUSS MicroTec AG: Divestment of Cascade- shares leads to an one- time tax free gain in the first quarter 2011 of 0.8 EUR million

Garching, Germany, March, 7 2010 - SUSS MicroTec AG, which is listed in the Prime Standard of Deutsche Börse AG, announced in January 2010 the sale of its Test Systems Division to Cascade Microtech, Inc.. The purchase price for the SUSS MicroTec Test Systems GmbH, which is subject to a post-closing purchase price adjustment, is cash and debt free and consists of a fixed amount and an amount placed in escrow. The fixed component amounts to EUR 4.5 million of which EUR 2.0 million was paid in cash and EUR 2.5 million was paid in shares of Cascade Microtech common stock. In addition, an amount of EUR 2.5 million has been placed in escrow and will be released to the seller upon meeting certain post-sale conditions.

SUSS MicroTec sold all its ordinary shares of Cascade Microtech, acquired in the course of this transaction, via the stock exchange in the first quarter of 2011. At Group level, this transaction results in a one-time tax free gain of 0.8 EUR million. The divestment of the shares will lead to a liquidity inflow of 3.3 EUR million.

So far SUSS MicroTec AG gained 6.6 EUR million in cash from of the sale of its Test Systems Division. This amount includes the fixed purchase price, post-closing purchase price adjustments, releases from the amount placed in escrow and the divestment of shares. From the amount placed in escrow, SUSS MicroTec could gain further 1.5 EUR million in total in the future.

About SUSS MicroTec
SUSS MicroTec is a leading supplier of equipment and process solutions for markets such as 3D-Integration, Advanced Packaging, MEMS, Nanotechnology and Compound Semiconductor. High-quality solutions enable customers to increase process performance while reducing cost of ownership. SUSS MicroTec supports more than 8,000 installed mask aligners, coaters, bonders and probe systems with a global infrastructure for applications and service. SUSS MicroTec is headquartered in Garching near Munich, Germany.
For more information, please visit http://www.suss.com

Disclaimer:
This press release contains forward-looking statements relating to the business, financial performance and earnings of SUSS MicroTec AG and its subsidiaries and associates. Forward-looking statements are based on current plans, estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate and which in general are beyond the control of SUSS MicroTec AG. Consequently, actual developments as well as actual earnings and performance may differ materially from those which explicitly or implicitly assumed in the forward-looking statements. SUSS MicroTec AG does not intend or accept any obligation to publish updates of these forward-looking statements.

 

Contact:
SUSS MicroTec AG
Franka Schielke
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 (0)89 32007-161
Fax: +49 (0)89 32007-451
Email: franka.schielke@suss.com



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114588  07.03.2011