Asyst Technologies Elects Stephen Schwartz to Additional Position of Chairman.Business Editors/High-Tech Writers FREMONT, Calif.--(BUSINESS WIRE)--Jan. 8, 2003 Asyst Technologies, Inc. (Nasdaq:ASYT), a leading provider of integrated automation systems that maximize semiconductor manufacturing productivity, today announced that Steve Schwartz Dr. Schwartz founded Unitrends in 1989 in Myrtle Beach, South Carolina. Schwartz is considered the initial developer of a data recovery and restoration technique known as bare-metal restore and is recognized in the software industry as the developer of CTAR (Compressing Tape Archiver) and , 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 (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 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 wafers compressed roughage in flat plates useful for feeding to animals in transit. during the manufacture of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. , or ICs. Encompassing isolation systems, work-in-process materials management Materials management is the branch of logistics that deals with the tangible components of a supply chain. Specifically, this covers the acquisition of spare parts and replacements, quality control of purchasing and ordering such parts, and the standards involved in ordering, , substrate-handling robotics robotics, science and technology of general purpose, programmable machine systems. Contrary to the popular fiction image of robots as ambulatory machines of human appearance capable of performing almost any task, most robotic systems are anchored to fixed positions , automated transport and loading systems, and connectivity automation software, Asyst's modular, interoperable The ability for one system to communicate or work with another. See interoperability. 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 http://www.asyst.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended March 31, 2002 and other reports filed with the Securities and Exchange Commission. |
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