Almere, The Netherlands October 29, 2019, 12.15 p.m. CET ASM International N.V. (Euronext Amsterdam: ASM) today announces that it has entered into a settlement agreement with Kokusai Electric Corporation (formerly known as Hitachi Kokusai Electric ...
Almere, The Netherlands
October 29, 2019, 12.15 p.m. CET
ASM International N.V. (Euronext Amsterdam: ASM) today announces that it has entered into a settlement agreement with Kokusai Electric Corporation (formerly known as Hitachi Kokusai Electric Inc. and hereinafter referred to as “KEC”) to resolve the arbitration proceeding relating to the license agreement which expired in November 2017. As part of this settlement, KEC will pay ASM an amount of US$61 million. With this settlement all pending disputes between ASM and KEC with respect to patent licenses have been resolved.
As announced on February 23, 2018, ASM initiated an arbitration proceeding on August 30, 2017 with the American Arbitration Association against KEC for breach of the license agreement between the companies. This license agreement provided KEC and its affiliates a license under certain patents of ASM in the field of Batch ALD. The companies have now entered into a settlement agreement concerning all the matters of the arbitration.
This arbitration settlement is separate from the settlement of all patent lawsuits and invalidation proceedings between ASM and KEC that was announced on July 1, 2019.
The settlement of the arbitration will positively impact ASMI’s sales and bookings in Q4 2019 with an amount of US$61 million, or approximately €56 million.
About ASM International
ASM International NV, headquartered in Almere, the Netherlands, its subsidiaries and participations design and manufacture equipment and materials used to produce semiconductor devices. ASM International, its subsidiaries and participations provide production solutions for wafer processing (Front-end segment) as well as for assembly & packaging and surface mount technology (Back-end segment) through facilities in the United States, Europe, Japan and Asia. ASM International's common stock trades on the Euronext Amsterdam Stock Exchange (symbol ASM). For more information, visit ASMI's website at www.asm.com.
Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, epidemics and other risks indicated in the Company's reports and financial statements. The Company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
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Source(s) : ASM International NV
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