Applied Materials, Inc. (Nasdaq: AMAT)announced it will acquire HCT Shaping Systems SA, a privately-held company based in Switzerland.
HCT is the world’s leading supplier of precision wafering systems used principally in manufacturing crystalline silicon (c-Si) substrates for the solar industry.
Applied will pay approximately CHF 583 million (US$475 million at the current exchange rate) in cash. The acquisition is part of Applied’s strategy to accelerate customers’ ability to reduce the costs of photovoltaic (PV) cell manufacturing to make solar energy more competitive with grid electricity. “This acquisition aligns well with our overall strategy to drive down the cost-per-watt of solar power for c-Si and thin film applications,” said Mike Splinter, president and CEO of Applied Materials. “HCT will significantly expand our opportunities in the c-Si PV technology sector, which currently comprises 90% of solar panel production. By combining HCT’s precision wafering systems with Applied’s strong manufacturing technology and global support infrastructure, we believe we can take solar wafer manufacturing to the next level of production efficiency.”
After a silicon ingot is formed, HCT’s wafering systems exactly section it into thin substrates for subsequent use in fabricating c-Si solar cells. As a result of the substantial expansion of the solar industry, HCT has recently experienced rapid growth, supplying its products to c-Si solar manufacturers worldwide.
In c-Si manufacturing, HCT’s precision wafering systems enable customers to significantly reduce the thickness of wafers used to make c-Si solar cells, decreasing silicon usage. In addition, Applied’s products for thin film solar cell manufacturing reduce silicon utilization by forming atomically thin layers of silicon directly from gases onto a glass substrate.
“Our overall solar strategy is to reduce cost-per-watt, and for c-Si, the ‘grams of silicon-per-watt’ is key to this equation,” commented Dr. Mark Pinto, senior vice president and general manager of Applied’s New Business and New Products Group. “HCT’s technology and roadmap to reduce wafer thickness are critical to improving material utilization and will complement our high throughput c-Si ATON deposition system, enabling customers to scale up production and reduce cost.”
The parties expect to close the transaction during Applied’s fourth fiscal quarter of 2007.
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