Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Asyst Technologies (ASYT) Good Value/Where is the Bottom? -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (2143)	1/8/2003 7:41:42 PM
From: SemiBull	Read Replies (2) \| Respond to of 2313

Asyst Technologies Elects Stephen Schwartz to Additional Position of Chairman Wednesday January 8, 7:15 pm ET FREMONT, Calif.--(BUSINESS WIRE)--Jan. 8, 2003--Asyst Technologies, Inc. (Nasdaq:ASYT - News), a leading provider of integrated automation systems that maximize semiconductor manufacturing productivity, today announced that Steve Schwartz, President and Chief Executive Officer and a member of the board, has been elected to the additional position of Chairman of the Board, replacing Dr. Mihir Parikh. With the completion of this transition to new leadership, Dr. Parikh continues as a non-management member of the Board of Directors, but retains no other position with the company. The action is in line with the company's management succession plan. Steve Schwartz said, "We at Asyst are deeply grateful to Mihir for his many contributions to the company over the years. We look forward to building on the foundation that he established and taking Asyst to even greater success in coming years." Mihir Parikh said, "Having served as the CEO of Asyst for over 18 years, I believe the company is now better positioned than at any time since its founding in 1984. With that legacy, it is time for me to move on and to pursue other opportunities. I want to thank Asyst employees, customers and business partners for the support that they have given to Asyst and to me for these 18 years." 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 ability to effectively manage cash flow, the availability of financing if needed, 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. John Swenson, 510/661-5000 jswenson@asyst.com or Guerrant Associates Laura Guerrant, 808/882-1467 lguerrant@guerrantir.com -------------------------------------------------------------------------------- Source: Asyst Technologies, Inc.