Printer Friendly

PLASMA-THERM ANNOUNCES SEC APPROVAL OF ITS RF POWER PRODUCTS SPIN-OFF

PLASMA-THERM ANNOUNCES SEC APPROVAL OF ITS RF POWER PRODUCTS SPIN-OFF
 ST. PETERSBURG, Fla., July 15 /PRNewswire/ -- Plasma-Therm, Inc. (NASDAQ: PTIS) said it is pleased to announce that the spin-off of its subsidiary, RF Power Products, Inc. (RFPP), (formerly RF Plasma Products), has cleared the Securities and Exchange Commission (SEC), effective today.
 Accordingly, Plasma-Therm shareholders at the close of business on July 15, 1992, the record date for the distribution, will receive one share of RFPP common stock for each share of Plasma-Therm stock owned on that date. This distribution will be tax-free to shareholders for federal tax purposes. It is expected that RFPP stock certificates will be mailed on July 24, the company said.
 In a joint statement, Ronald Deferrari and Joe Stach, chairmen of the boards and presidents of Plasma-Therm and RFPP, respectively, stated that the separation should allow RFPP to grow. The burden experienced by RFPP in marketing its products to competitors of Plasma-Therm has now been removed.
 Moreover, both agreed that the separation will allow each company to focus its energies on its core business. In turn, this should benefit everyone associated with the companies.
 Trading in the stock of RFPP is expected to commence immediately through the "Pink Sheets."
 /delval/
 -0- 7/15/92
 /CONTACT: Ronald Deferrari of Plasma-Therm, 813-577-4999, or Joseph Stach of RF Power Products, 609-767-6800/
 (PTIS) CO: Plasma-Therm, Inc.; RF Power Products, Inc. ST: Florida, New Jersey IN: SU:


JS-CC -- PH032 -- 9681 07/15/92 15:47 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 15, 1992
Words:245
Previous Article:FOURTH FINANCIAL REPORTS SECOND QUARTER EPS UP 59.4 PERCENT TO $.51, CITED INCREASED REVENUES AND IMPROVED ASSET QUALITY
Next Article:COMPUTER RESEARCH REPORTS LOSSES FOR THIRD QUARTER AND FIRST NINE MONTHS


Related Articles
PLASMA-THERM TO SPIN-OFF RF PLASMA PRODUCTS
PLASMA-THERM ANNOUNCES 1991 YEAR-END RESULTS
PLASMA-THERM ANNOUNCES FIRST QUARTER 1992 RESULTS
PLASMA-THERM ANNOUNCES SECOND QUARTER 1992 RESULTS
PLASMA-THERM, INC. ANNOUNCES VALUATION FOR ITS FORMER SUBSIDIARY, RF POWER PRODUCTS
PLASMA-THERM, INC. ANNOUNCES THIRD QUARTER 1992 RESULTS
PLASMA-THERM, INC. ANNOUNCES FISCAL 1992 INFORMATION
PLASMA-THERM, INC. ANNOUNCES FISCAL 1992 YEAR-END RESULTS
Plasma-Therm, Inc. Announces Sale of Multiple Versalock(R) Systems to Kionix, Inc.
Plasma-Therm,(TM) Inc. Announces Repeat Orders to High Volume GaAs Device Manufacturer.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters