BEVERLY, Mass., April 16, 2008 (PRIME NEWSWIRE) -- Axcelis Technologies, Inc. (Nasdaq:ACLS), in response to a press release issued today by Sumitomo Heavy Industries, Ltd. (SHI) (TSE:6302), stated: "Axcelis has been and remains ready to engage in private, confidential discussions with SHI, but SHI appears to be more interested in negotiations through the press. Axcelis does not believe that negotiation through the press is productive. When SHI is ready to talk privately with Axcelis, Axcelis will be happy to do so." Axcelis also observed: "SHI in its press release reiterated its unsolicited proposal to acquire Axcelis at $6.00 per share. As previously announced, the Axcelis board has already rejected this proposal as undervaluing the company."
On Monday, Axcelis filed a shareholder letter discussing its efforts to negotiate with SHI and providing market and product updates. In that letter, Axcelis stated, "We will continue to commit to discussions with SHI at such time as SHI is ready to agree to reasonable terms for those discussions, and we will continue to be open to all reasonable solutions."
A copy of the letter can be viewed at: http://www.axcelis.com/Shareholder_Letter.pdf
About Axcelis Technologies, Inc.
Axcelis Technologies, Inc., headquartered in Beverly, Massachusetts, provides innovative, high-productivity solutions for the semiconductor industry. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation and cleaning systems. Axcelis also licenses its 50% owned joint venture, SEN Corporation, an SHI and Axcelis Company, to manufacture and sell certain implant products in Japan. The company's Internet address is: www.axcelis.com.