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Business Observer Monday, Mar. 14, 2011 11 years ago

Plasma-Therm buys Swedish firm

The St. Petersburg-based manufacturer grows its business capabilities.

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.

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