Rhetech, Inc. Appoints Seki Technotron As Sales Representative in the Peoples Republic of China
COOPERSBURG, Pa.--(BUSINESS WIRE)--March 4, 2002--Rhetech, Inc., a wholly owned subsidiary of Semitool, Inc. (Nasdaq: SMTL - news) today announced the appointment of Seki Technotron Asia Pte Ltd. as its representative in the Peoples Republic of China.
``Seki will help bring Rhetech's unique, high value products and services to the world's fastest growing market for semiconductor capital equipment,'' said Vince McGinty, President of Rhetech, Inc. ``The Seki organization has a strong technical team and significant knowledge of Rhetech products as the result of our existing sales representative relationships in Taiwan and Singapore.''
McGinty added, ``The People's Republic of China is a growing market for our products, and that nation's fast-growing semiconductor industry is increasingly demanding the processing tools and support services that are uniquely supplied by Rhetech.''
Seki will support the Rhetech product line from its new Sales and Service Facility in Pudong, Shanghai.
Rhetech, Inc. was established in 1993 and is a wholly owned subsidiary of Semitool, Inc. (Nasdaq: SMTL - news), a worldwide leader in the design, development, manufacture and support of high performance, single-wafer and multi-wafer batch wet chemical processing systems for use in the fabrication of semiconductor devices and advanced packaging. Rhetech sells and services fully remanufactured and restored Semitool Spin Rinser Dryers, Spray Solvent Tools, Spray Acid Tools, and Equinox single wafer processing systems. Rhetech, Inc., is Semitool's only factory-authorized remanufacturing and restoration services provider. For more information, please visit the company's website at www.rhetechinc.com.
Safe Harbor Statement
Except for historical information, the matters discussed in this news release include forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These include statements relating to Rhetech's unique, high value products, the demand for the processing tools and services supplied by Rhetech and the growth rate of the Chinese market for semiconductor capital equipment. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from those projected. In addition, Semitool's business is subject to several risks, including, but not limited to, the cyclicality in the semiconductor industry, fluctuations in Semitool's operating results, rapid technological change and market acceptance of Semitool's new products, as well as, other risk factors related to Semitool's business contained in its Annual Report on Form 10-K for the fiscal year ended September 30, 2001 and other filings with the Securities and Exchange Commission. Neither Semitool nor Rhetech assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
--------------------------------------------------------------------------------
Contact:
CONTACTS: Rhetech, Inc.
Vincent C. McGinty, 610/282-0105
vmcginty@rhetechinc.com
or
Investor Relations Partners, Inc.
Darlene Hershey, 973/535-8389
hershey@irpartners.com
or
Seki Technotron
Mr. T.K. Lee, tklee@seki.com.sg
Mr. Huang Hai Dong, haidong@seki.com.sg
86-21-5887-9669 |
