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Tempe company sells off key chunk of its solar business

photovoltaic cells
Posted at 9:03 AM, Jul 01, 2019
and last updated 2019-07-01 12:03:03-04

As expected, Amtech Systems Inc. has taken a key step in its plan to divest its solar industry business as the Tempe-based company said it has sold off its SoLayTec unit in Europe.

In a brief announcement on June 28, Amtech did not divulge the buyer or any financial details of the transaction.

In a statement, J.S. Whang, the company's chairman and CEO, said the company has engaged Oaklins SmallCap Adivsory BV of The Netherlands to advise on the divestiture of another of its solar units in that country, Tempress Holding BV.

SoLayTec, which is also based in The Netherlands, produced equipment used in the processing of solar cells.

Read more about the deal from Phoenix Business Journal.