Advanced Energy Acquires Solvix SA
FORT COLLINS, Colo., Nov. 15, 2012 (GLOBE NEWSWIRE) -- Advanced Energy Industries, Inc. (Nasdaq:AEIS) today announced that it has acquired Solvix SA, a privately held company based in Villaz-Saint-Pierre, Switzerland. A manufacturer of power supplies for the surface treatment and thin films industry, Solvix brings a plasma-based sputtering and cathodic arc deposition applications to AE's existing product portfolio. With its best-in-class arc detection and suppression technology, Solvix's product line will enhance AE's offerings in low power and pulsed DC products, allowing it to expand into new applications and serve a broader worldwide customer base. With the addition of Solvix's engineering site in Villaz-Saint-Pierre, AE will also establish a European engineering and development center for its thin-film industrial products business, in keeping with its strategy to move closer to its customers.
"This acquisition is an important step in our Thin Films growth strategy to expand beyond our traditional applications," said Yuval Wasserman, president of AE Thin Films. "Focusing on decorative and hard coating solutions, Solvix will join our Thin Films Industrial organization, complementing our existing product line with its technologically differentiated products. We believe this will strengthen Advanced Energy's competitive position worldwide, offering our customers a comprehensive DC power suite, while expanding our technology base to provide improved performance and address future thin-film deposition needs."
Statements in this press release, information discussed on the related analyst day presentation concerning the acquisition of Solvix SA and expectations related to the addition of its products to the company are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to: the successful integration of selected operations of Solvix SA and our expectations surrounding the benefits of the Solvix products; as well as the effects of global macroeconomic conditions upon demand for such products, the volatility and cyclicality of the industries the company serves, particularly the semiconductor industry and the industrial tribology and decorative coating industry, the timing of orders received from customers, and unanticipated changes to management's estimates, reserves or allowances. These and other risks are described in Advanced Energy's Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission. These reports and statements are available on the SEC's website at www.sec.gov. Copies may also be obtained from Advanced Energy's website at www.advancedenergy.com or by contacting Advanced Energy's investor relations at 970-407-6555. Forward-looking statements are made and based on information available to the company on the date of this press release. The company assumes no obligation to update the information in this press release.
About Advanced Energy
Advanced Energy is a global leader in reliable power conversion solutions used in thin-film plasma manufacturing processes and solar energy generation. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.
Solvix is the European specialist in electrical supply and generator units for high technology applications in the surface treatment and thin film industry. They are involved in two fields of application: i) the distribution on the market of the new MAGIX generators, exceptionally high in performance and ii) the development of complete turnkey systems, from preliminary feasibility study to after-sales service, including design and perfecting of prototypes. The systems and products supplied by Solvix, used in the process of high-tech surface treatment are characterized by their reliability and flexibility.
CONTACT: Peter Gillespie Advanced Energy Industries, Inc. +1.408.574.2534
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