SAN JOSE and FREMONT, Calif./Oct. 8, 2002 -- Comerica (NYSE: CMA), a leading financial services company, and Asyst Technologies, Inc. (Nasdaq: ASYT), a leading provider of integrated automation solutions that maximize semiconductor manufacturing productivity, announced today that Comerica's Technology and Life Sciences Division has provided Asyst with a $25 million line of credit.
"We are pleased to provide this credit facility to Asyst, which has an impressive history of success in semiconductor manufacturing automation," said Ed Lambert, senior vice president in Comerica's Technology and Life Sciences Division. "We understand the technology sector, and we have the resources necessary to meet the financial needs of established companies like Asyst."
Since the mid-1980s, Asyst has provided semiconductor and related industries with high quality, integrated solutions -- such as isolation technology, work-in-process materials management, and automation systems -- to improve customer productivity and profitability.
"We were impressed with how the entire Comerica team mobilized to make this credit facility happen in a timely manner," said Geoffrey Ribar, Asyst's senior vice president and chief financial officer. "These funds will be invaluable to us as we work toward expanding our worldwide operation."
About Asyst
Asyst Technologies, Inc. is a leading provider of integrated automation systems for the semiconductor manufacturing industry, which enable semiconductor manufacturers to increase their manufacturing productivity and protect their investment in silicon wafers during the manufacture of integrated circuits, or ICs. Encompassing isolation systems, work-in-process materials management, substrate-handling robotics, automated transport and loading systems, and connectivity automation software, Asyst's modular, interoperable solutions allow chipmakers and original equipment manufacturers, or OEMs, to select and employ the value-assured, hands-off manufacturing capabilities that best suit their needs. Asyst's homepage is http://www.asyst.com.
About Comerica's Technology and Life Sciences Division
Comerica's Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $51 billion in assets.
Media Contacts:
John Swenson
Asyst Technologies, Inc.
(510) 661-5000
jswenson@asyst.com
or
Adrienne Moch
Pacifico (for Comerica’s Technology and Life Sciences Division)
(408) 293-8600 x319
amoch@pacifico.com
or
Keith Turner
Comerica Bank-California
(408) 556-5111
keith_turner@comerica.com
