Asyst cuts 15% of workforce, buys out JV

Citing the IC downturn, fab-tool automation vendor Asyst Technologies Inc. plans to cut 15 percent of the company’s global workforce.

Consistent with the terms of a purchase agreement dated July 14, 2006, Asyst will purchase the remaining 4.9 percent ownership stake in Asyst Technologies Japan Inc., formerly Asyst Shinko Inc., from Shinko Electric Co. Ltd., which will result in a cash payment of 1.3 billion yen, or approximately $14.1 million at current exchanges rates, in late January. (EE Times)