Applied Materials to Acquire Italy’s Baccini SpA

Staff -- Semiconductor International, 11/19/2007 5:26:00 AM

Applied Materials Inc. (Santa Clara, Calif.) said today that it would spend $330M to acquire privately held Baccini SpA (Treviso, Italy), which supplies automated metallization and test systems for manufacturing crystalline silicon (c-Si) photovoltaic (PV) cells.

Baccini provides automated equipment capable of processing wafers <120 µm thick — much thinner than those typically used in the industry. In a press release, Applied said that reliable processing of ultrathin wafers will allow customers to minimize the use of silicon, which now represents >60% of solar cell manufacturing cost.

Baccini, founded 40 years ago by current chairman Gisulfo Baccini, developed the PV industry’s first integrated metallization line more than 20 years ago. “Baccini and Applied share an enterprising spirit and both have a 40-year history of delivering innovative, highly efficient and productive products,” Baccini said in a statement. “The integration of Baccini’s technology with Applied’s process, production and manufacturing expertise will provide new capabilities to enable world-class solar solutions for our global customers.”

Mike Splinter, president and CEO of Applied Materials, said, “With this acquisition, Applied will become a leading provider of c-Si cell manufacturing solutions to the PV industry. As a key supplier to both the c-Si and thin-film solar markets, we are committed to driving down the cost and ramping up the scale of PV manufacturing to make solar energy competitive with grid electricity. We are especially excited by the opportunity to engage in key efforts to meet this challenge in Italy — a country with strong geographic potential for realizing early grid parity.”

Under the terms of the agreement, Applied will pay €225 million ($330M) in cash for all of the outstanding shares of Baccini, with the deal expected to close early next year.