Eaton acquires semiconductor equipment company
CLEVELAND, OH...Eaton Corporation today said it has acquired High Temperature Engineering Corporation (HTE) of Peabody, Massachusetts for an undisclosed amount.
HTE, which had 1995 sales of less than $10 million and a staff of approximately 20 people, manufactures rapid thermal processor furnaces and small batch vertical furnaces for use in the production of semiconductor wafers.
Brian R. Bachman, Eaton Senior Vice President Semiconductor and Specialty Systems said, "The process skills represented in HTE's products are complementary to our $750 million ion implantation equipment business. The Semiconductor Industry Association road map strategically links rapid thermal processing and small batch vertical furnaces with implantation. The addition of HTE's product line, with its inherent lowest cost of ownership, will allow Eaton to provide broader integrated processing solutions to our customers.
"This acquisition is consistent with Eaton's growth initiative. The market for HTE products is already $1.5 billion and projections are that it will continue to grow significantly for the foreseeable future. Today's announcement gives Eaton access to that market, while ensuring that HTE will have the financial and other resources it needs in order to fully participate in the rapid growth we anticipate," Bachman said.
Rapid thermal processing furnaces and small batch vertical furnaces are used to heat wafers, a process that is necessary in a number of the steps required to manufacture semiconductor chips.
HTE will become a part of Eaton's Semiconductor Equipment Operations (SEO), which is headquartered in Beverly, Massachusetts, and has manufacturing facilities in Beverly and Austin, Texas, and a joint venture operation in Toyo, Japan. SEO is a worldwide leader in the development of ion implantation products and services, delivering the only complete line of high current, medium current and high energy ion implantation systems to semiconductor device manufacturers worldwide.
Eaton Corporation is a global manufacturer of highly engineered products which serve vehicle, industrial, construction, commercial and aerospace markets. Principal products include truck transmissions and axles, engine components, hydraulic products, electrical power distribution and control equipment, ion implanters and a wide variety of controls. Headquartered in Cleveland, the company has 54,000 employees and 150 manufacturing sites in 23 countries around the world. Sales for 1995 were $6.8 billion.