Fursa seeks changes to ASM; supports new team of experts' plan to revitalize the company

By Lisa Kerner

Charlotte, N.C., Dec. 12 - Fursa Alternative Strategies LLC, a 9.1% shareholder of ASM International NV, "is supporting a team of leading experts from the wafer processing equipment industry who have been developing an ambitious plan for the front-end business" of the company.

The team includes several individuals experienced in building and running "leading businesses in the semiconductor equipment industry," according to a schedule 13D filing with the Securities and Exchange Commission.

Fursa believes the prospective new team and its strategy for "reinvigorating" ASM could unlock and create significant shareholder value, the filing stated.

The investor would also like to see a "significant strengthening" in the company's board to steer ASM to growth and peer level margins. As such, Fursa would support the appointment of new team members to ASM's board.

Fursa said it plans on remaining a long-term investor in the new ASM after future management changes are completed.

The reporting persons beneficially own 4,940,883 shares or 9.1% of the Bilthoven, Netherlands-based company's stock.

ASM designs and manufactures equipment and materials used to produce semiconductor devices.

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