KIRKLAND, Wash. and BOISE, Idaho/April 14, 2003 - Comerica (NYSE: CMA), a leading financial services company, and SCP Global Technologies, a leading supplier of semiconductor capital equipment, announced today that Comerica’s Technology and Life Sciences Division has provided SCP with a $20 million revolving line of credit.
"We are pleased to issue this credit facility to SCP, which has a long tradition of providing quality equipment to semiconductor manufacturers and other related industries," said Jim Ellison, senior vice president and managing director of Comerica’s Northwest Technology and Life Sciences Division. "We have maintained our commitment to the technology market, and our expanded focus in the Boise area reconfirms our dedication to this sector."
For more than 25 years, SCP has been an industry leader in surface preparation equipment, providing automated wet process tools for high-throughput manufacturing environments such as semiconductor production. Just last month, the company announced two significant achievements: the closing of a $50 million funding round led by 3i and VantagePoint Venture Partners, and the acquisition of the Wet Products Division of Mattson Technology, Inc. (Nasdaq: MTSN).
"With the simultaneous closing of two transactions, Comerica stepped in, stepped up and provided the necessary working capital line to ensure the success of the transaction," said Glenn Michael, SCP’s CFO. "Comerica met the aggressive timeline we had with solutions that worked for everyone involved. We look forward to a mutually beneficial relationship going forward."
About SCP Global Technologies
Established in 1975, SCP Global Technologies has been an industry leader in the development of wet processing equipment used in the manufacture of semiconductor wafers. The company continues its commitment to being the worldwide leader in the supply of cost-effective surface preparation technology, systems and services to the semiconductor and related industries. For further information, inquiries can be sent to SCP Global Technologies, 400 Benjamin Lane, Boise, Idaho 83704. Contact numbers: telephone (800) 223-1691 or (208) 685-5000 and fax (208) 685-4540. View the company’s web site at www.scpglobal.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. From 18 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 $53 billion in assets as of December 31, 2002.
Media Contacts:
Judy Doster
SCP Global Technologies
(208) 685-3244
jdoster@scpglobal.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
