LEDs ♦ news digest
at low pressures. Above all it has been developed with reliability, uptime and ease of serviceability in mind.
Solid-state lighting has the potential to revolutionise the lighting industry. LEDs traditionally used in displays are evolving to provide illumination for domestic use as governments legislate globally to make consumers switch to energy-efficient LEDs.
Oxford Instrument’s PlasmaPro 100 Sapphire’s technology promises manufacturers the tools to deliver more efficient, lower cost lighting that is needed worldwide to assist the lighting revolution.
5N Plus and vendors of MCP Group bury the hatchet
The companies have reached a settlement in relation with the dispute previously announced by the corporation on December 21st, 2012
5N Plus Inc. has entered into a full and final settlement agreement with Florinvest SA, Heresford Ltd., Metals Corp SCRL and S.R.I.W. SA (the “Vendors”), which are all former shareholders of MCP Group SA (“MCP”).
5N Plus acquired MCP from the Vendors on April 11th, 2011, from which remained a balance of the purchase price and accrued interest of approximately 54 million Euros.
The corporation filed a counterclaim in arbitration proceedings against the Vendors as it estimated that the Vendors had breached the representations and warranties of the Acquisition Agreement. Since then, other civil proceedings were commenced by the Corporation and the Vendors.
This full and final settlement entails: (a) a final adjustment to the purchase price through the final payment by the Corporation of an all-inclusive lump sum amount of 17.5 million Euros to the Vendors (from which 15 million Euros was paid at closing with the balance to be paid on April 9, 2014); (b) the withdrawal and cancellation of all arbitration and civil proceedings; and (c) the granting of mutual releases and discharges.
“We are pleased with the outcome and the complete settlement of this dispute as it will allow our management to solely focus on the Corporation’s main objective of increasing shareholder value,” says Jacques L’Ecuyer, President and Chief Executive Officer of 5N Plus.
5N Plus is a producer of specialty metal and chemical products. Headquartered in Montreal, Quebec, Canada
and operating manufacturing facilities and sales offices in several locations in Europe, the Americas and Asia, 5N Plus deploys a range of proprietary and proven technologies to produce products which are used in a number of advanced pharmaceutical, electronic and industrial applications.
Typical products include purified metals such as bismuth, gallium, germanium, indium, selenium and tellurium, inorganic chemicals based on such metals and compound semiconductor wafers. Many of these are critical precursors and key enablers in markets such as solar, light-emitting diodes and eco-friendly materials.
Veeco’s stay of suspension extended by NASDAQ
The III-V semiconductor equipment provider has received stay of suspension pending a NASDAQ hearing
On June 17th, 2013, Veeco Instruments Inc. received a letter from the NASDAQ Stock Market LLC.
The letter indicated that the NASDAQ Listing Qualifications Panel had granted the company’s request to extend the stay of suspension of trading in its common stock pending a final determination regarding the Veeco’s listing status following a hearing before the Panel.
The hearing has been scheduled for June 27th, 2013.
At the hearing, Veeco will request additional time to satisfy the NASDAQ listing requirement that the firm be current in its filings with the Securities and Exchange Commission.
The Panel typically issues decisions within 30 days of the hearing date. However, there is no requirement that the Panel do so within that time frame.
Veeco will provide an update regarding its continued listing status once a decision on this matter has been issued following the hearing.
Linx: Demand for
semiconductor precursors set to escalate
Thin film processes & materials for FEOL and interconnect applications will fuel the demand for the precursors
July 2013
www.compoundsemiconductor.net 167
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