FSI International (ticker:
FSII, exchange: NASDAQ) News Release - 2/7/05
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FSI International Announces the Sale of Its
Allen, Texas Facility
The Company Received Approximately $14.4 Million of Net Proceeds
from the Sale
MINNEAPOLIS (Feb. 7, 2005) -- FSI International, Inc.
(Nasdaq: FSII), a manufacturer of capital equipment for the microelectronics
industry, today announced that it closed on the sale of its 162,000
square foot Allen, Texas facility.
The company received approximately
$14.4 million in net cash proceeds from the sale. The building
and property, plant and equipment sold was carried on the company’s
balance sheet at approximately $7.5 million, as of January 31,
2005. The company retained ownership of approximately four acres
of land adjacent to the Allen site.
Concurrent
with the sale, the company entered into a sublease of approximately
40,000 square feet of space in the facility. The lease ends on
August 31, 2005, however, the company has an option to extend
the sublease term for two periods of twelve months each, by giving
not less than 90 days prior written notice. The company’s
legacy POLARIS® System
product group will continue to maintain operations in the facility.
FSI
International Inc. is a global supplier of surface conditioning
equipment technology and support services for microelectronics
manufacturing. Using the Company’s broad portfolio of cleaning
products, which include batch and single-wafer platforms for
immersion, spray, vapor and CryoKinetic technologies, customers
are able to achieve their process performance, flexibility and
productivity goals.
The Company’s support services programs
provide product and process enhancements to extend the life of
installed FSI equipment, enabling worldwide customers to realize
a higher return on their capital investment.
FSI maintains a Web
site at http://www.fsi-intl.com.
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