grm52-3.gif (6802 bytes)

IT Background & Trends
    Internet Background
    Silicon Valley History
    Silicon to Internet Valley
    Bay Area Regional Guide

Industry Leaders
   Top 100 Magazines
    Top 100 Companies

E-commerce  Services
   iFactor
    Web Influence
    Hyperlink Mechanics
    FAQ & Contact Info

Internet Valley, Inc.
    HyperBook
    Community
    Feedback

Mirrors
    Mountain View
    San Francisco #1
    San Francisco #2
    European Mirror

 

Company News

 

 

APPLIED MATERIALS AND ASM RESTRUCTURE $65 MILLION NOTE

 

SANTA CLARA, Calif., December 23, 1998 -- Applied Materials, Inc. and ASM International, N.V. ("ASM") announced today that ASM's obligations to Applied Materials pursuant to a November 1997 litigation settlement have been restructured. In November 1997, Applied Materials and ASM settled all outstanding litigation, and Applied Materials received from ASM a Subordinated Convertible Note ("Note") for $80 million, due and payable in November 1998. ASM made a partial payment of $15 million against the Note in November 1997.

Applied Materials and ASM have restructured the Note, with ASM paying $20 million on December 23, 1998, and agreeing to pay $10 million on or before November 2, 1999 and $35 million on or before November 2, 2000. Applied Materials will record cash payments from ASM as non-operating income upon receipt. In addition, Applied Materials received security for the Note, 1.5 million warrants to acquire shares of ASM at $5.375 per share and certain other licensing considerations.

This press release contains certain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, ASM's timely payment of its obligations under the Note. Applied Materials and ASM do not assume any obligation to update the information in this press release.

Applied Materials, Inc. is a Fortune 500 global company and the world's largest supplier of wafer fabrication systems and services to the global semiconductor industry. Applied Materials is traded on the Nasdaq National Market under the symbol, "AMAT". Applied Materials' website is http://www.appliedmaterials.com.

ASM International, N.V. is headquartered in Bilthoven, The Netherlands. ASM subsidiaries design, manufacture and market equipment and materials used to produce semiconductor devices. ASM and its subsidiaries provide production solutions for the wafer processing, assembly and packaging segments through their facilities in the United States, Europe, Japan and Asia. ASM's common shares trade on Nasdaq under the symbol "ASMIF" and on the Amsterdam Exchanges under the symbol "ASMI". Additional information on ASM can be found on its website at http://www.ASM.com.

 

 

Applied Materials Contacts
Carolyn Schwartz (investment community)
(408) 748-5227
Jeffrey Lettes (editorial/media)
(408) 563-5161

Suggestions, comments,  questions? Contact us

 

Copyright 1995-1999, InternetValley Inc.