BTU International to Acquire Product Lines and Related Assets of Radiant Technology Corporation.NORTH BILLERICA, Mass. & FULLERTON, Calif. -- BTU Btu: see British thermal unit. International, Inc. (Nasdaq NM: BTUI), a leading supplier of advanced thermal processing equipment for the electronics manufacturing This article presents a typical manufacturing process of an electronic assembly. Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors. and energy generation markets, and Radiant Technology Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : RTNC RTNC Radio Télévision Nationale Congolaise (Congo) RTNC Returned to National Control ), a leading supplier of in-line near infrared furnaces and dryers primarily used in the solar energy industry, today announced that they had entered into a purchase and sale agreement under which BTU will acquire the product lines, trademarks and other related assets of Radiant Technology Corporation (RTC See real time clock. ). The purchase price for the acquisition is as follows: 1) $ 500,000 in cash and 100,000 shares of BTU common stock, of which 30,000 shares are contingent upon RTC's successful achievement of certain non-financial performance criteria; 2) Royalty payments on any products using the RTC technology manufactured by BTU for a period of 4 years. In addition, the parties would enter into a supply agreement under which RTC would continue to manufacture its products for distribution by BTU after the closing. According to Paul van der Wansem, chairman 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 BTU International, "BTU will assume overall responsibility for the products in terms of cost reductions, the development of new products, as well as worldwide commercialization and customer support." "The inclusion of the RTC products within the BTU family of products will allow for a stronger competitive position in the global marketplace. In addition, the RTC technology and products provide a good fit with BTU's strategic expansion of the energy generation segment of our business and strengthens our position in the photovoltaic The generation of voltage by a material that is exposed to light in the visible and invisible ranges. See photoelectric and photovoltaic cell. market. This will enable both parties to capitalize on the opportunities ahead," said van der Wansem. This acquisition is subject to customary closing conditions, including approval by RTC's shareholders. BTU anticipates that the acquisition will close by early March. About BTU International BTU International is a market-leading supplier of advanced thermal processing equipment to the electronics manufacturing and energy generation markets. BTU manufactures reflow (1) The process of heating and melting the solder that has been screen printed onto a printed circuit board in order to bond chips and other components to the board. Surface mount chips (SMT) use the reflow method. Contrast with wave soldering. See also reflowable text. furnaces for printed circuit board assembly as well as semiconductor wafer-level and die-level packaging equipment. BTU also provides thermal process solutions for the solar cell, fuel cell and nuclear fuel industries. BTU, with headquarters in North Billerica, MA, operates worldwide with direct sales and service offices in the USA, Asia and Europe. Information about BTU International is available on BTU's website at www.btu.com. About Radiant Technology Corporation RTC is a leading supplier of near infrared furnaces, ovens, and dryers for the solar energy, microelectronics and optics industries. Process applications include solar cell firing, diffusion, thick film firing, glass/metal/ceramic sealing, polymer curing, drying, annealing annealing (ənēl`ĭng), process in which glass, metals, and other materials are treated to render them less brittle and more workable. and more at temperatures up to 1300 degrees centigrade centigrade /cen·ti·grade/ (sen´ti-grad) having 100 gradations (steps or degrees); see under scale. cen·ti·grade adj. Celsius. . RTC is headquartered in Fullerton, California and sells its products worldwide. 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 This news release, other than historical financial information, includes forward-looking statements that involve known and unknown risks and uncertainties, including future market opportunities. Such statements are neither promises nor guarantees but rather are subject to risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Such statements are made pursuant to the "safe harbor" provisions established by the federal securities laws, and are based on the assumptions and expectations of BTU's management at the time such statements are made. Important factors that could cause actual results to differ include the timely availability and acceptance of new products, general market conditions governing supply and demand, the impact of competitive products and pricing and other risks detailed in BTU's filings with the Securities and Exchange Commission, including but not limited to its 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 December 31, 2004. Actual results may vary materially. Accordingly, you should not place undue reliance on any forward-looking statements. All information set forth in this press release is as of February 7, 2006, and, unless otherwise required by law, BTU and RTC disclaim any obligation to revise or update this information in order to reflect future events or developments. |
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