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Applied Materials completes acquisition of HCT

Posted: 28 Aug 2007 ?? ?Print Version ?Bookmark and Share

Keywords:HCT acquisition? Applied Materials portfolio? photovoltaic cells?

Applied Materials Inc. has announced the completion of its acquisition of HCT Shaping Systems SA (HCT), a supplier of precision wafering systems for manufacturing crystalline silicon (c-Si) substrates for the solar industry. The acquisition expands Applied's portfolio of solutions for helping solar customers reduce the costs of manufacturing photovoltaic cells to make solar energy more competitive with grid electricity.

Under the agreement, originally announced June 26, 2007, Applied paid approximately CHF 583 million (or approximately US$483 million) in cash for all of the outstanding shares of HCT, a privately held company based in Switzerland.

"This acquisition, combined with our strong production technology and global support infrastructure, will enable us to bring crystalline silicon solar manufacturing to a new level of efficiency and help drive down the cost-per-watt of solar power," said Mike Splinter, president and CEO of Applied Materials. "HCT's technology is critical to our roadmap since it complements our high-throughput deposition systems and will enable customers to scale up production and reduce costs."

HCT is now part of Applied's new Precision Wafering Systems division, operating under the Solar Business Group headed by Charles Gay. Stefan Schneeberger, who has been appointed VP and general manager of the Precision Wafering Systems division, commented, "We are excited to be part of Applied Materials. Our roadmaps are aligned with the goal of bringing new and advanced manufacturing technologies to reduce the cost of solar energy. Together, we will help customers to continuously reduce the grams of silicon needed per watt, while significantly improving their productivity."

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