American Fine Wire Corp. to merge into Kulicke & Soffa Industries Inc.WILLOW GROVE Willow Grove may refer to:
in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :KLIC) and American Fine Wire Corporation announced today the signing of a letter of intent to merge the business of American Fine Wire into K&S. The acquisition is for consideration of cash and stock totaling approximately $45 million, subject to closing adjustments. The transaction is subject to executing a definitive agreement and regulatory approvals, and is expected to be completed by or shortly after the end of K&S' fiscal year, Sept. 30, 1995. American Fine Wire is a leading supplier of bonding wire for the semiconductor assembly industry, with sales of approximately $68 million for the year ending Dec. 31, 1994. American Fine Wire has production facilities in Singapore; Zurich, Switzerland; and Selma, Ala., and had product offerings in gold, aluminum and specialty wire. American Fine Wire is a subsidiary of Circle "S" Industries, a U.S.-based corporation headquartered in Birmingham, Ala. "We are excited about the growth prospects that AFW AFW Air Force Weather AFW Auxiliary Feedwater (Nuclear Power) AFW Alliance Airport, Fort Worth (Airport Code) AFW Away From Window AFW Advanced Fusion Workstation AFW Application Frame Work presents to our consumables business," said C. Scott Kulicke, chairman and chief executive officer of K&S. "They are a leader in the fine wire business." "We are pleased to be joining Kulicke & Soffa Industries," said R. Kelly
R. Kelly (born Robert Sylvester Kelly on January 8, 1967 in Chicago, Illinois) is an American urban R&B singer, songwriter, multi-instrumentalist, record producer, and occasional Payne, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Fine Wire. "We believe there is great synergy between our two companies, which should result in opportunities to leverage sales to both current and new customers." Larry D. Striplin Jr. chairman of Circle "S" Industries added, "Both organizations should benefit from this arrangement." Kulicke & Soffa is the world's largest producer of semiconductor assembly equipment and systems. The company serves both the IC and MCM (MultiChip Module or MicroChip Module) A chip package that contains several bare chips mounted close together on a substrate (base) of some kind. markets with a product line that includes wafer dicing Wafer dicing is the process by which individual silicon chips or integrated circuits on a silicon wafer are separated following the processing of the wafer. The dicing process can be accomplished by scribing and breaking, by mechanical sawing (normally with a machine called a , die bonding and wire bonding equipment, and with sales and service facilities worldwide. CONTACT: Kulicke & Soffa Industries Inc., Willow Grove Jim Chiafery, 215/784-6436 or AFW, Singapore R. Kelly Payne, 011-65-755-1155 |
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