industry news ♦ compound semiconductor ♦ news digest
The purpose of the JV is to complete the development and commercialization of BluGlass’ proprietary Remote Plasma Chemical Vapor Deposition (RPCVD) technology. BluGlass will receive AUD $ 5.2 million investment from SPTS for a subscription of ordinary shares at $0.11 per share.
SPTS is a leading provider of plasma based process equipment to tier-1 and tier-2 manufacturers of LEDs, semiconductors, and other electronics globally. With over 400 employees and 35 locations worldwide, SPTS is seeking to expand its product portfolio into adjacent process equipment sectors. SPTS President and CEO, William Johnson said BluGlass has developed promising technology that fits well with SPTS’ technical roadmap and product/customer base.
“Through this joint venture, SPTS and BluGlass intend to bring the RPCVD technology to market on field- proven production platforms, offering significant competitive advantages for customers in the rapidly expanding high brightness LED industry,” Johnson added. “We are delighted to partner with BluGlass and look forward to collaborating on the commercialization of this potentially disruptive technology.”
In establishing this strategic partnership, SPTS will become a cornerstone investor in BluGlass Limited, subscribing for approximately 47.7 million fully paid ordinary shares of BluGlass at an issue price of $0.11 per share to give SPTS a post placement holding of 19.9% of the expanded issued ordinary share capital of BluGlass.
This investment involves two tranches. The initial tranche, 23,297,379 shares (subscription amount: $2,562,712) is to be placed within 5 days of this announcement The balance of SPTS’s subscription (24,431,780 million shares for a subscription amount of $2,687,496) exceeds the Company’s placement capability and requires the approval of shareholders of BluGlass, to be sought at the Company’s AGM to be held on 1 November 2010.
BluGlass has also agreed to offer SPTS the right to participate in any future issue of securities, to the extent necessary to maintain its holding at the time, and SPTS will have an ongoing right to nominate a representative to the BluGlass board (on the condition that SPTS has more than 10% in BluGlass).
BluGlass Chairman, George Venardos said, “As part of our new strategic relationship with SPTS, I am delighted that the BluGlass Board will be unanimously recommending William Johnson as a nominee for a board seat at the upcoming 2010 AGM”.
BluGlass CEO Giles Bourne added “SPTS’ existing plasma deposition equipment manufacturing expertise and capabilities, along with its substantial customer base are enormously complementary and synergistic to BluGlass’ commercial goals.”
“SPTS is the perfect fit partner for our technology and its commercialization and we are delighted to announce this Joint Venture agreement with this dynamic company. This is a major commercial milestone for BluGlass” he continued.
RPCVD will potentially offer cost, throughput and efficiency advantages for the production of nitride semiconductors. The Joint Venture will be co-capitalized by the two parties exclusive and additional to the initial $5.2 million investment into BluGlass by SPTS. BluGlass will maintain a majority stake of the equipment JV with 51% ownership and will also retain 100% ownership of device (such as LEDs and solar cel) intellectual property.
The JV will focus exclusively on the development of the RPCVD equipment portfolio and sales. BluGlass will exclusively license its RPCVD intellectual property for the purposes of the JV with SPTS. SPTS has existing manufacturing capability in plasma based process equipment, and both companies bring complementary intellectual property and know-how into the venture.
BluGlass will continue to operate its Silverwater facility and through the JV it will establish RPCVD development and demonstration equipment at SPTS facilities. “SPTS is already a global leader in the supply of specialist semiconductor production equipment. We believe that this Joint Venture will enable BluGlass and SPTS to emerge as a front runner in supplying process equipment for the LED and PV-solar industries,” concluded Bourne.
SPP Process Technology Systems SPP Process Technology Systems was established in October 2009 as the vehicle for the merger of Surface Technology Systems and acquired assets of
August/September 2010
www.compoundsemiconductor.net 51
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180 |
Page 181 |
Page 182 |
Page 183 |
Page 184 |
Page 185 |
Page 186 |
Page 187 |
Page 188 |
Page 189 |
Page 190 |
Page 191 |
Page 192 |
Page 193 |
Page 194 |
Page 195 |
Page 196 |
Page 197 |
Page 198 |
Page 199 |
Page 200 |
Page 201 |
Page 202 |
Page 203 |
Page 204 |
Page 205 |
Page 206 |
Page 207 |
Page 208 |
Page 209 |
Page 210 |
Page 211 |
Page 212 |
Page 213