NexTech Solutions Receives $1M Investment from Hakuto
September 14, 2007 (PRLEAP.COM) Technology NewsNexTech Solutions, Inc. (Pink Sheets: NXSN) is pleased to announce that Hakuto Co., Ltd., one of the most highly respected distributors and manufacturers in the electronics industries, has made an initial equity investment of $1M in NexTech Solutions. NexTech Solutions anticipates a larger investment by Hakuto to follow.
Hakuto is a Tokyo Stock Exchange listed company (ticker # 7433) with 22 offices and over 1500 employees serving the semiconductor, FPD, electronics and related industries. Hakuto most recently purchased Generation Four (G4) NexTStar NanoScan AOI system from NexTech Solutions and is representing NexTech’s products throughout the Asia Pacific Rim countries of Japan, Korea, Taiwan, China, Singapore and Malaysia.
NexTech Solutions’ President and CEO, Mr. Tony Di Napoli states, “We are delighted to have Hakuto as a shareholder in NexTech Solutions. Hakuto is proving to be a tremendous partner providing not only financial support, but extensive relationships and strategic direction.”
Founded in 1953, Hakuto Co., Ltd. is headquartered in Tokyo, Japan and has 12 subsidiaries with 22 offices throughout Japan, China, Korea, Thailand, Singapore, and the U.S. The company distributes electronic products, provides technical services and manufactures industrial chemicals. Hakuto is a publicly-traded company listed on the Tokyo Stock Exchange, First Section (Ticker code #7433); with annual sales of 123,442 million YEN (FY2007) or approx US$1.05 billion dollars. More information about Hakuto is available online at www.hakuto.co.jp
About NexTech Solutions and FAS Technologies
NexTech Solutions, Inc. delivers advanced metrology and automation solutions to the global semiconductor and flat panel display (FPD) industries. NexTech's mission is to create greater shareholder value through advanced technology development of products targeted at large, fast-growing markets. The company is headquartered in Austin, Texas, with facilities in San Mateo, Calif. NexTech’s stock is quoted on the Pink Sheets under the symbol NXSN. For more information, see: http://www.nxts.com.
FAS Technologies, LLC is a Texas Limited Liability Company with offices in Dallas and Tokyo. FAS Technologies is a pioneering company widely recognized in the industry for the development of digital fluid dispensing a patented spinless coating technology known as "FAS-Coat," which has become the de-facto standard in the coating process of FPD substrates during manufacture. The company is engaged in the design, development, manufacture, integration, sale and servicing of advanced, high-precision coating systems for the microelectronics industry. For more information, see: http://www.fas.com.
NexTech and FAS have announced plans to combine the two companies in a two-step transaction. The companies will consolidate operations into a joint venture which is expected to close in late September 2007, subject to closing conditions. Following necessary approvals of stockholders and regulatory authorities, the companies will be combined in a merger transaction and reincorporated in Delaware.
Statements in this release that are not strictly historical may be "forward-looking" statements. The actual results may differ from those described in this release due to risks and uncertainties that exist in NexTech’s operations and business environment, including delays in new product development, product performance and quality issues, the need for additional financing and the dilutive effects of such financing, the inability to integrate the operations of NexTech and FAS and the acceptance of current and new products in NexTech’s markets. NexTech undertakes no obligation to publicly release the results of any revisions to any forward-looking statements that reflect events or circumstances arising after the date hereof.