Loading
ST. PETERSBURG — Plasma-Therm LLC, a manufacturer with $50 million in annual revenues, acquired a majority stake in Advanced Vacuum, a Swedish firm that makes similar products. Financial terms were not disclosed.
Based in St. Petersburg, Plasma-Therm builds machines that can produce semiconductor chips. Consumer electronics firms like Philips, Samsung and Toshiba use those chips in many of their products.
Advanced Vacuum provides vacuum and thin-film equipment that is used in many of the same applications with which Plasma-Therm products are involved. In addition to expanding each firm's service offerings, the partnership will create an expanded sales and service network.
In July, Plasma-Therm CEO Abdul Lateef spoke glowingly about his company's future prospects in a Business Review feature story. “Right now we're seeing growth in every market we serve,” Lateef told the Review.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
