Brooks Automation and Berkeley Process Control Mutually Terminate Agreement for Brooks to Acquire Berkeley
Thursday May 15, 6:08 pm ET
CHELMSFORD, Mass., May 15 /PRNewswire-FirstCall/ -- Brooks Automation, Inc. (Nasdaq: BRKS - News), which delivers total automation for the semiconductor industry, and privately held Berkeley Process Control, Inc., a leader in motion and machine control technologies, today announced the termination of the agreement for Brooks to acquire Berkeley that was previously announced on September 18, 2002. The acquisition was originally targeted for completion by the end of calendar year 2002, but due to changes in the business environment, both companies mutually agreed to end the transaction. There are no termination penalties that are applicable to either party; a loan agreement between Brooks and Berkeley Process Control has been renegotiated.
About Berkeley Process Control
Berkeley Process Control, Inc. (Berkeley), of Richmond, CA, a privately held company founded in 1981, is a leader in integrated motion and machine control technologies for telecommunications/optical fiber, semiconductor equipment, and industrial automation. For more information, visit berkeleyprocess.com.
About Brooks Automation, Inc.
Brooks delivers total automation. The company's hardware, software and services can manage every wafer, reticle and data movement in the fab, helping semiconductor manufacturers accelerate time-to-market while reducing their risk. Brooks products are used in virtually every fab in the world. For information, visit brooks.com.
_Safe Harbor_ Statement under Section 21E of the Securities Exchange Act of 1934:
The foregoing discussion contains forward-looking statements related to future results and speaks only of Brooks Automation's expectations as of the date of this press release. These include statements concerning the technical and geographic markets for our products and the capabilities of those products, and they involve several known and unknown risks and uncertainties that could cause Brooks' financial results to differ from expectations. Factors that could cause such differences include, without limitation, the continued success of Brooks Automation, Inc. in the marketplace, Brooks' dependence on the cyclical semiconductor industry, the success of our products in meeting customers' expectations, our ability to compete successfully in a variety of geographic markets, the highly competitive nature and rapid technological change that characterize the industries in which Brooks competes, the parties' current interpretation of the impact of the termination described above, our ability to more effectively align costs and revenues so as to achieve sustained profitability and other risks and uncertainties described in Brook's reports and registration statements filed with the Securities and Exchange Commission. Brooks Automation expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in Brooks' expectations or any change in events, conditions or circumstances on which any such statement is based.
All trademarks contained herein are the property of their respective owners.
Contact:
Mark Chung
Director of Investor Relations
Brooks Automation, Inc.
Telephone: (978) 262-2459
mark.chung@brooks.com
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Source: Brooks Automation, Inc |
