S&P: ATMI unaffected

Standard & Poor's said ATMI Inc.'s agreement to sell its silicon epitaxial services business to International Rectifier Corp. (BB-/stable/--) for $41 million in cash would have no affect on its rating or outlook on ATMI.

S&P said higher cash balances, $180 million at March 31, pro forma for the sale, should provide ATMI with additional resources to support its aggressive transition toward copper-based processes, where industry growth is expected to be robust.

Still, competition for copper processes is expected to be aggressive, as it has been for many of ATMI's other materials businesses, according to S&P.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.