Asymtek acquired by Nordson; enhances dispensing technologies for customers.CARLSBAD, Calif.--(BUSINESS WIRE)--July 29, 1996--Asymptotic Technologies (known as Asymtek), a leading manufacturer of automated fluid dispensing systems, has reached an agreement to be acquired by Nordson Corp. (Nasdaq:NDSN NDSN National Drug Strategy Network ). A purchase price was not disclosed. Asymtek will operate as an independent, wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Nordson. ``We are very pleased with this agreement. It strengthens both organizations and allows us to share dispensing technologies. Nordson brings Asymtek international presence and the ability to support our rapid growth. Asymtek brings sophisticated automation and strength in the electronics industry to Nordson,'' stated Robert L. Ciardella, who will continue as president of Asymtek. Alec J. Babiarz, senior vice president of Asymtek, said: ``This agreement allows both Nordson and Asymtek to maintain neutrality in the marketplace, focusing on dispensing technologies and refraining from alignment with a single equipment manufacturer or fluid formulator. Both companies will continue working with a wide range of suppliers in the best interests of our customers.'' Ciardella and Babiarz will continue to manage Asymtek, reporting to John E. Jackson, senior vice president, Nordson. Asymtek's operations will remain at its current headquarters, a new 41,000-sq.-ft. (3,700-sq.-meter) manufacturing and R&D facility in Carlsbad. Asymtek and Nordson have enjoyed a long and successful business relationship. For nine years, Nordson has been an Asymtek OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customer, incorporating Asymtek's motion-control technology into the Nordson Select Coat systems. Nordson is a world leader in systems that apply adhesives, sealants and coatings to a broad range of consumer and industrial products during manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. . The company has seven major U.S. facilities and direct operations in 31 countries. With headquarters in Westlake, Ohio Westlake is a city in Cuyahoga County, Ohio, United States. The population was 31,719 at the 2000 census. Geography Westlake is located at (41.454439, -81.928657)GR1. , Nordson has more than 3,700 employees worldwide. Fiscal sales in 1995 were $581.4 million, and earnings per share were $2.84. Asymtek produces a range of automated fluid dispensing systems widely used in such applications as electronic assembly, medical device, industrial, automotive and appliance manufacturing. Asymtek is the market leader in automated, closed-loop process control systems for integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for (IC) encapsulation (1) In object technology, the creation of self-contained modules that contain both the data and the processing. See object-oriented programming. (2) The transmission of one network protocol within another. and underfill applications. Product capabilities range from industry-preferred benchtop dispensers to fully automated, in-line, conveyorized systems. Asymtek, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. founded in 1983, had 1995 annual sales exceeding $20 million. Asymtek employs 129 people at its headquarters and in field operations. CONTACT: Asymtek, Carlsbad Roberta Foster-Smith, 619/431-1919 619/431-2678 (fax) rfostersmith@asymtek.com |
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