Business Services Industry
Bruce Technologies International announces Kokusai Electric acquires 100 percent ownership of company
Business Wire, June 17, 1996
NORTH BILLERICA, Mass.--(BUSINESS WIRE)--June 17, 1996--Bruce Technologies International announced today that negotiations between its owners, Kokusai Electric Co. Ltd. of Toyko, Japan and BTU International Inc. (NASDAQ: BTUI) of North Billerica, Mass. have been finalized with a signed agreement.
Effective at the end of business on Wednesday, June 26, 1996, Kokusai will acquire 100 percent ownership of Bruce by purchasing the shares of Bruce stock previously held by BTU. Bruce will then become a wholly-owned subsidiary of Kokusai Electric Co. Ltd.
Bruce Technologies International is a leading supplier of furnace technology and process control software to semiconductor manufacturers. The company manufactures state-of-the-art horizontal and vertical diffusion/LPCVD furnaces which layer films for circuitry onto the surface of a silicon wafer during chip making, and also offers the most advanced process control software available.
An engineering-driven company known for its technological achievements, Bruce pioneered the first integrated software systems for chip furnaces and was the first furnace maker to utilize CAD software in designing its equipment.
CONTACT: Bruce Technologies International
Tim McCarthy, 508/670-5501
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