Semiconductor assembly and packaging equipment supplier ASM Pacific Technology Ltd. (0522.HK) said Monday that it had completed the acquisition of Siemens Electronics Assembly Systems, a surface-mount technology equipment manufacturer, from Siemens AG (SI).

Hong Kong-listed ASM Pacific said the SEAS team, with about 1,200 staff worldwide, would be integrated into the group under the business name ASM Assembly Systems, with its headquarters remaining in Munich. It will have production sites in Munch and Singapore.

Siemens said in late July that it was selling its assembly systems business to ASM, a unit of Dutch semiconductor equipment maker ASM International NV (ASMI).

Under the terms of the deal, Siemens will pay EUR29 million to ASM Pacific Technology. In exchange, ASM Pacific Technology will support the loss-making business with guarantees, revolving credit lines and loans totaling EUR160 million, according to a filing at the time to the Hong Kong Stock Exchange.

-Amsterdam bureau, Dow Jones Newswires; Tel +31 20 5715 206.
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