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SEMX Corporation Completes Merger with Coining Holding Company
ARMONK, N.Y., Jan. 22 /PRNewswire-FirstCall/ -- SEMX Corporation (Pink Sheets: SEMX) announced that it successfully completed its merger with a subsidiary of Coining Holding Company today, whereby SEMX CORPORATION will become a wholly-owned subsidiary of Coining Holding Company. Under the terms of the merger, the common stockholders of SEMX Corporation will receive approximately two and one-half cents in cash for each common share. Stockholders will receive a written notice along with a transmittal form from Continental Stock Transfer and Trust Company, the Paying Agent, instructing them how to submit their common shares in return for their applicable portion of the cash merger consideration.
SEMX CORPORATION is a leading niche manufacturer of specialty materials and engineered metal products with a global footprint. The Company focuses on interconnect and package products for microelectronic component designers and assemblers, while also addressing broader applications across a variety of industries. SEMX's primary product lines are solder preforms, jumper chips, bonding pads, drawn bonding wire and ribbon, heat sinks, spheres, and lead frames. These products are used in the medical device, telecommunications, semiconductor, automotive, industrial, consumer, and aerospace and defense industries.
COINING HOLDING COMPANY is the parent Company of Coining, Inc., a Saddle Brook, NJ based manufacturer of solder and brazing preforms used for a variety of joining applications in the microelectronics industry. Coining is estimated to be the largest solder preform manufacturer in the world, as measured by both sales volume and units shipped. Coining melts, alloys, casts, extrudes and rolls its own raw materials as well as stamps, inspects and packages final parts. The Company is active in more than 200 alloys (precious and non-precious), has an industry-leading library of more than 8,000 tools and serves 400+ customers in more than 20 countries around the world. The Company's products are used in the medical device, telecommunications, semiconductor, automotive, industrial, consumer, and aerospace and defense industries.
Portions of this release that are not historical in nature may be forward-looking statements. These forward-looking statements speak only as of the date of this release and SEMX Corporation expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein. The Corporation's actual performance may differ materially from that contemplated by the forward-looking statements as a result of a variety of factors that include, but are not limited to, the general economic and business climate and business conditions of the microelectronic and semiconductor markets.
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