ASM International N.V. Accelerates Restructuring of Worldwide
Front-end Operations>
ASM International N.V. Accelerates Restructuring of Worldwide Front-end Operations
(Thomson Reuters ONE) - ALMERE, The Netherlands - July 20, 2009 - ASM International N.V.(NASDAQ: ASMI and Euronext Exchange in Amsterdam: ASM) announcedtoday that it is accelerating its cost reduction and restructuring ofworldwide Front-end operations. The goal of this restructuringprogram, called PERFORM!, launched and announced earlier this year,is to streamline ASMI's global operations and transfer Front-end intoa strong profit making organization. The Company is making animportant step in reaching this goal by increasing and acceleratingthe cost reduction target to at least 40% (compared to the Q4 2008run rate) to be realized in the first half of 2010, which is sixmonths earlier than previously announced.The main components of the Company's accelerated execution plans are: * The consolidation of its global Front-end Manufacturing operations from Europe, the United States and Japan, into its Front-end manufacturing operations in Singapore by the end of 2010. This will be achieved by: 1) completing the previously announced transfer from Almere, the Netherlands, which is on schedule; 2) phasing out the manufacturing operation in Phoenix, Arizona, in the first half of 2010; and 3) transferring manufacturing from Nagaoka, Japan, no later than the fourth quarter of 2010. The Company believes these actions will also lead to significant Working Capital reductions. * The reduction of Selling, General and Administration expenses by making fundamental changes in our global support infrastructure. This includes a significant simplification and streamlining of our warehousing operations and the further strengthening of the Global Sales & Service organization which was created last year. * The leveraging of Research and Development and our product portfolio by reprioritization of strategic programs in order to maximize their potential.Following the implementation of these measures, ASMI will continue tomaintain strong Research and Development, Product Management,Marketing and Customer Support activities in Almere, Phoenix andNagaoka/Tama.Unfortunately, restructuring on this scale requires the loss of manyloyal and dedicated employees. The Company, however, remainscommitted to executing this key program.The Company expects that total restructuring charges of approximatelyEuro 60 - 70 million, which include amounts disclosed earlier thisyear, will largely be accounted for in the 2009 accounts with theassociated cash flows distributed relatively evenly over 2009 and2010. The amounts include non-cash charges of an estimated Euro 10million related to impairment of assets.In addition, partly as a result of the current prolonged contractionin the semiconductor industry, the Company will report an inventorywrite-down of approximately Euro 20 - 25 million in the 2009 secondquarter results, which will be announced on July 29, 2009.From time to time, ASMI may post additional information related tothis restructuring on its corporate website, www.asm.com.Chuck del PradoPresident and CEO of ASM InternationalAbout ASM InternationalASM International N.V. and its subsidiaries design and manufactureequipment and materials used to produce semiconductor devices. ASMInternational and its subsidiaries provide production solutions forwafer processing (Front-end segment) as well as assembly andpackaging (Back-end segment) through facilities in the United States,Europe, Japan and Asia. ASM International's common stock trades onNASDAQ (symbol ASMI) and the Euronext Amsterdam Stock Exchange(symbol ASM). For more information, visit ASMI's web site atwww.asm.com.Safe Harbor Statement under the U.S. Private Securities LitigationReform Act of 1995: All matters discussed in this statement, exceptfor any historical data, are forward-looking statements.Forward-looking statements involve risks and uncertainties that couldcause actual results to differ materially from those in theforward-looking statements. These include, but are not limited to,economic conditions and trends in the semiconductor industrygenerally and the timing of the industry cycles specifically,currency fluctuations, financing and liquidity matters, the successof restructurings, the timing of significant orders, marketacceptance of new products, competitive factors, litigation involvingintellectual property, shareholder and other issues, commercial andeconomic disruption due to natural disasters, terrorist activity,armed conflict or political instability, epidemics and other risksindicated in the Company's filings from time to time with the U.S.Securities and Exchange Commission, including, but not limited to,the Company's reports on Form 20-F and Form 6-K. The Company assumesno obligation nor intends to update or revise any forward-lookingstatements to reflect future developments or circumstances. # # #Investor Contacts:Erik KamerbeekTel: +31 88 100 8500Mary Jo DieckhausTel: +1 212 986 2900Media Contact:Ian BickertonTel: +31 20 6855 955 Mobile: +31 625 018 512Charles HuijskensTel: +31 20 6855 955Mobile: +31 653 105 072http://hugin.info/132090/R/1329665/314042.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 20.07.2009 - 08:25 Uhr
Sprache: Deutsch
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