Applied Materials acquires HCT Shaping Systems to expand solar manufacturing solutions
Aug 24, 2007
Applied Materials, Inc. today announced that it has completed the acquisition of HCT Shaping Systems SA (HCT), the world's leading supplier of precision wafering systems for manufacturing crystalline silicon (c-Si) substrates for the solar industry. The acquisition expands Applied's portfolio of solutions for helping solar customers reduce the costs of manufacturing photovoltaic (PV) cells to make solar energy more competitive with grid electricity.
Under the terms of the agreement, originally announced on June 26, 2007, Applied paid approximately CHF 583 million (or approximately US$483 million) in cash for all of the outstanding shares of HCT, a privately-held company based in Switzerland.
"This acquisition, combined with our strong production technology and global support infrastructure, will enable us to bring crystalline silicon solar manufacturing to a new level of efficiency and help drive down the cost-per-watt of solar power," said Mike Splinter, president and CEO of Applied Materials. "HCT's technology is critical to our roadmap since it complements our high-throughput deposition systems and will enable customers to scale up production and reduce costs."