Trikon Technologies Announces Preference Share and Convertible Note Exchanges Into Common Stock
NEWPORT, Wales, United Kingdom--(BUSINESS WIRE)--March 14, 2000--Trikon Technologies, Inc. (OTC-BB:TRKN) a technology leader in semiconductor production equipment announced today the exchange of $1.0 million of the Company's 7.125% Convertible Subordinated Notes with accrued interest and 1,596,339 shares of Series H Preferred Stock with accrued dividends for a total of 1,229,398 shares of Common Stock.
"These exchanges are of significant benefit to the Company," said Jeremy Linnert, Trikon chief financial officer. "The effect of these exchanges in fiscal 2000 will be a reduction in dividend payable on the preferred stock of approximately $1.1 million and a cash saving of approximately $72,000 in note interest payments. By converting these preferred shares and notes to common stock at this time the company has reduced the potential costs of redemption in 2001 by $17 million."
About Trikon
In addition to a broad range of equipment offering productivity and cost of ownership advantages, Trikon has developed advanced products including a unique patented low-k deposition cluster tool, the Low K Flowfill(TM), metalization barrier deposition and M0RI(TM) high density plasma etch. These products continue to gain market acceptance and are expected to generate continued sales growth in the rapidly expanding market.
Trikon's new technology products include:
Low K Flowfill(TM). An advanced low-k dielectric deposition system capable of both gap fill and planarization enabling the low-k advantage of increased device speed to be brought to existing aluminum metalization devices as well as copper.
Sigma(R) fxP(TM) PVD. A metalization system offering high throughput and reliability with advanced process modules for high uniformity PVD, metal plug (Forcefill(R)) and advanced barrier deposition processes including ionized PVD.
M0RI(TM) Omega(R). An advanced high density plasma etch chamber on a small footprint platform.
Trikon have recently made announcements including:
- Tower Semiconductor Ltd. order additional Flowfill(R) and
Forcefill(R) systems for production expansion.
- 1999 financial results. Product sales up 92% on 1998
- First Asian foundry order for Low K Flowfill(TM) - The first production orders for Low K Flowfill(TM) from LSI Logic
Corporation.
- LSI's report stating that the use of Low K Flowfill(TM) in their
device designs made possible "an immediate performance gain of
nearly 25% over similar designs using standard dielectric
materials, but at no significant extra cost".
- The first shipment of Trikon's new PVD cluster tool, the Sigma(R) fxP(TM), to Infineon Technologies.
- The formation of a $8.25 million line of credit from Lloyds TSB
Bank PLC.
- In December of 1999, Trikon completed a 1:10 reverse split which
reduced the number of outstanding common shares from
approximately 94 million to approximately 9.4 million.
About Trikon Technologies
Trikon, www.trikon.com has patents and patents pending on Flowfill(R) and Low K Flowfill(TM) and related processes and continues to develop low-k chemistries and processes for advanced applications. Trikon provides a broad line of advanced manufacturing systems used for three of the major processing steps in the manufacture of a semiconductor device: chemical vapor deposition (CVD), physical vapor deposition (PVD) and plasma etch. Products include: Low K Flowfill(TM) for advanced low-k insulator deposition, Sigma(R) fxP for advanced metal deposition including barrier layers and M0RI(TM) high-density plasma etchers.
"Safe Harbor" Statement Under the Private Securities Litigation Act of 1995: This news release contains certain forward-looking statements, including, but not limited to, statements relating to the continued strength in demand for semiconductor production equipment and the status of Trikon's products and their acceptance in the marketplace. These forward-looking statements are subject to various risks and uncertainties that could cause results to differ materially, including, but not limited to, (1) that the semiconductor industry will experience conditions, such as changes in demand for various types of semiconductors, that will affect the demand for semiconductor production equipment and Trikon's products, (2) that Trikon will not adequately respond to technological developments impacting the semiconductor industry, (3) market acceptance of Trikon's advanced products will not be forthcoming. These factors are not intended to represent a complete list of all risks and uncertainties inherent in the Company's business, and should be read in conjunction with the more detailed cautionary statements included in the company's SEC reports, including, without limitation, its annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.
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CONTACT: Trikon Company contact: Carl Brancher
Trikon Technologies
44 (0) 1633 414111 (U.K.) carl.brancher@trikon.com
or
contact:
Alexander Fudukidis
Ludgate Communications
212/515-0246
fudukidi@ludgateny.com |
