Germany's Siemens AG sells SEAS to ASMI

Germany's Siemens AG will sell its assembly systems business Siemens Electronics Assembly Systems (SEAS) to ASM Pacific Technology, a subsidiary of ASM International NV of the Netherlands.

With the move, ASM Pacific will expand its product portfolio by entering into the surface mount technology equipment business.ASM Pacific will integrate SEAS into the company as a separate unit. Munich, Germany is to remain the central location for production, testing and research at SEAS.

According to Chuck del Prado, president and CEO of ASM International, "ASMI's second quarter performance reflects strong growth in both our wafer processing and assembly and packaging operations.Our front-end business returned to profitability, we reached the cost reduction targets as set out in our global restructuring program, and we experienced an acceleration of orders compared to prior quarters. In back-end, revenues, orders, and profits once again set quarterly records for our assembly and packaging operations serving the semiconductor and LED markets".

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