Atmi Inc. (MM) (NASDAQ:ATMI)
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ATMI Partners Emosyn Business With Silicon Storage Technology
DANBURY, Conn., Sept. 13 /PRNewswire-FirstCall/ -- ATMI, Inc. (NASDAQ:ATMI), a
supplier of materials and materials packaging to the world's leading
semiconductor manufacturers, today announced that it has sold its Emosyn smart
card business to Silicon Storage Technology, Inc. (NASDAQ:SSTI) through a newly
formed subsidiary, Emosyn International. Emosyn International is to be jointly
held by SST (83.6%) and ATMI (16.4%).
Emosyn International, with approximately 40 employees, will operate as a
separate entity, designing and developing leading edge integrated circuits
(ICs) for the smart card market based on SST's SuperFlash technology. Emosyn
will continue to have a research and development center in Silicon Valley, a
marketing and application office in the United Kingdom, and an office in
Singapore for marketing and applications support.
Gene Banucci, Chief Executive Officer of ATMI, said, "We are very excited about
our alliance with SST. In addition to the fact that they are a terrific company
with outstanding flash memory technology, we believe this is the optimal
pathway for ATMI both to focus on our materials-based strategy and to maintain
the opportunity to generate shareholder value from our Emosyn investment."
Dan Sharkey, ATMI Chief Financial Officer, said, "ATMI will realize an
immediate gain on the sale of the Emosyn assets, while generating additional
cash for our already strong balance sheet. As far as our Technologies
divestment initiative is concerned, we are now at the point where five of the
six Technologies businesses in the ATMI portfolio have been divested. Thus we
remain on track to complete this initiative by year-end."
The names and marks referenced in this press release are the property of their
respective owners. SuperFlash is a registered trademark of Silicon Storage
Technology, Inc.
ATMI provides specialty materials and materials packaging to the worldwide
semiconductor industry. As the Source of Semiconductor Process Efficiency, ATMI
helps customers improve wafer yields and lower operating costs. For more
information, please visit atmi.com.
Statements contained herein that relate to ATMI's future performance,
including, without limitation, statements with respect to ATMI's anticipated
results of operations or level of business for 2004 or any other future period,
are forward-looking statements within the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such statements are based on current
expectations only and are subject to certain risks, uncertainties, and
assumptions including, but not limited to, changes in semiconductor industry
growth or ATMI's markets; competition, problems, or delays developing and
commercializing new products; problems or delays in integrating acquired
operations and businesses into ATMI; problems or delays associated with any
restructuring activity, or implementing any strategy, including resolution of
the various discontinued elements of ATMI's Technologies segment; and other
factors discussed in ATMI's filings with the Securities and Exchange
Commission. Such risks and uncertainties could cause actual results to differ
from those projected. ATMI undertakes no obligation publicly to update or to
revise any forward-looking statements, whether because of new information,
future events or otherwise.
DATASOURCE: ATMI, Inc.
CONTACT: Dean Hamilton, ATMI, +1-203-207-9349, Direct, or
+1-203-794-1100 ext. 4202,
Web site: http://www.atmi.com/