Amtech Systems today provided an update on the expected timing of the completion of the sale of the remainder of its solar business. Due primarily to the year-end back-log of European notaries, the closing date on the sale of Tempress is now planned for January 2020.
Mr. J.S. Whang, Executive Chairman and Chief Executive Officer of Amtech, commented, "In line with our strategic plan, we are completing the final steps necessary for the solar divestiture project and are moving forward with our full attention on our power semiconductor and silicon carbide growth opportunities. The sale of R2D to key members of their management team closed on December 13, 2019, and we are pleased that the Tempress divestiture will be completed in January 2020. We are confident that with the solar divestitures, we are well positioned to realize profitable growth and enhance value for all stakeholders."