Asyst Technologies Makes First Customer Shipments from Solectron Facilities in Singapore
Wednesday March 5, 6:30 am ET
FREMONT, Calif.--(BUSINESS WIRE)--March 5, 2003--Asyst Technologies, Inc., (Nasdaq:ASYT - News) today announced the achievement of a significant milestone in its transition to outsourced manufacturing with the first customer shipments from Solectron Corporation's facilities in Singapore.
Asyst announced its intention to outsource its North American manufacturing operations in September 2002. In October, Solectron's Shinei International subsidiary began manufacturing using former Asyst manufacturing personnel and Asyst's facilities in Fremont, Calif. Over the succeeding weeks, working closely with Asyst supply chain managers, Shinei integrated the knowledge and techniques necessary to successfully transition the first Asyst products to Shinei's new, state-of-the-art clean-room manufacturing facility in Singapore.
Fred Tiso, Asyst's senior vice president, manufacturing operations, said, "We shipped our first products out of Singapore exactly four months from the day that our transition began. This is a powerful achievement, and testament to the skills and dedication of our new supply chain organization at Asyst and at Solectron. Our transition is on schedule, with the vast majority of our U.S.-manufactured product families expected to begin shipping out of Singapore by the end of the current quarter. We expect to see the first tangible benefits of the transition - both for Asyst and our customers - during the quarter ending June 2003. As the model gains momentum, we believe that customers will experience not only enhanced levels of quality and on-time delivery, but also accelerated innovation as Asyst sharpens its focus on advanced automation product development."
Sharon Matthews, Solectron corporate vice president, systems solutions, said, "As Asyst's sole manufacturing services partner, Solectron is excited to be an integral part of this important milestone. We appreciate Asyst's commitment to superior quality and on-time delivery -- and we will continue to deliver the high level of service that Asyst and its customers worldwide have come to expect."
About Asyst
Asyst Technologies, Inc. is a leading provider of integrated automation systems for the semiconductor manufacturing industry, which enable semiconductor manufacturers to increase their manufacturing productivity and protect their investment in silicon wafers during the manufacture of integrated circuits, or ICs. Encompassing isolation systems, work-in-process materials management, substrate-handling robotics, automated transport and loading systems, and connectivity automation software, Asyst's modular, interoperable solutions allow chipmakers and original equipment manufacturers, or OEMs, to select and employ the value-assured, hands-off manufacturing capabilities that best suit their needs. Asyst's homepage is asyst.com
"Safe Harbor" Statement
Except for statements of historical fact, the statements in this press release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to: the volatility of semiconductor industry cycles, failure to respond to rapid demand shifts, dependence on a few significant customers, the transition of the industry from 200mm wafers to 300mm wafers, risks associated with the acceptance of new products and product capabilities, competition in the semiconductor equipment industry, failure to efficiently integrate acquired companies, failure to retain employees, losses of market share, and other factors more fully detailed in the Company's annual report on Form 10-K for the year ended March 31, 2002 and other reports filed with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Asyst Technologies, Inc.
Pamela Mah, 510/661-5000 (Media)
pmah@asyst.com
John Swenson, 510/661-5000 (Investors)
jswenson@asyst.com
or
Guerrant Associates
Laura Guerrant, 808/882-1467 (Investors)
lguerrant@guerrantir.com
--------------------------------------------------------------------------------
Source: Asyst Technologies, Inc |
