Cookson's letter to their customers:
Dear Valued Customer,
After careful consideration by Cookson Group plc, the company has made a strategic decision to refocus on its core business of developing and producing advanced materials for the electronics industry. As a result of this decision, Cookson announced on July 29th, 2003 that it will sell its equipment group known as Speedline Technologies Inc. The sale will include the MPM, Camalot, Electrovert and Accel brands of Speedline.
We are proceeding with business as usual as Cookson pursues potential buyers for Speedline. Our people are committed to maintaining the highest level of service to you, our valued customer, and all of our existing programs remain intact.
Because Speedline is a market leader in printers, dispensers, wave soldering, reflow and cleaning equipment with more than 36 thousand systems in the field, we believe there is a great opportunity for a focused investor to grow Speedline�s business by supporting the investment in its core leading technologies.
Despite the severe downturn in the electronics industry, Speedline has continued to invest in its R&D and service capabilities in order to provide you with unparalleled product offerings and technical support. This commitment and dedication will continue throughout the sale process.
Availability and support for the Speedline products and services you have purchased will continue after the sale, and please rest assured that we will make any future transition as seamless as possible for you.
We are confident the sale of Speedline will also have a positive impact on the remaining businesses of Cookson Electronics as the company demonstrates its refocus and commitment to developing and producing advanced materials for the electronics industry. Moreover, Cookson Electronics will seek to maintain strong technical cooperation with Speedline and its
new owners to continue multiple joint R&D and process application projects both in SMT and semiconductor packaging.
Speedline Customers
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As always, our goal is to bring you unmatched service, support and supply. I�ve enclosed
a question and answer sheet with this letter; I hope it will address some of your immediate concerns. As always, your local Speedline representative stands ready to address any questions you may have regarding this announcement and future transactions with us.
I thank you for your continued support and loyalty to Speedline.
Sincerely,
Pierre de Villemejane
President, Cookson Electronics Equipment
Cookson question and answers FAQ:
Speedline Customer Questions & Answers
Regarding the Sale of Speedline Technologies, Inc.
Q. What action is Cookson Group taking with respect to its Equipment Division?
A. As part of a Cookson Group restructuring plan announced on July 29, Cookson Group is divesting its Equipment business (known as Speedline Technologies, Inc.). The sale process will be managed as expeditiously as possible in order to ensure a seamless transition for our customers, suppliers and other business partners.
Q. Why is this course being taken?
A. After careful consideration by Cookson Electronics and its parent Cookson Group, plc, the company has made a strategic decision to refocus on its core business of developing and producing advanced materials for the electronics industry.
Although CE Equipment has had a history of technological leadership and success, the recent increasing cycles and variability in the equipment marketplace has led Cookson Group to conclude that it is in the best interest of its shareholders to exit this business at this time, and devote its resources and energy to increasing its market-leading electronics materials businesses.
We also believe that a focused investor will be better suited to support the ongoing needs of a leading high-tech capital equipment company such as Speedline.
Q. Who are the potential buyers for this business?
A. There are several potential buyers of Speedline, but ongoing business discussions prohibit me from talking about specifics at this time. Speedline is a market leader in printers, dispensers, wave soldering, reflow and cleaning equipment having more than 36 thousand systems in the field. We believe there is great opportunity for a focused investor to grow Speedline�s business by supporting the investment in its core leading technologies.
Speedline Customer Questions & Answers
Q. When do you expect to conclude this sale?
A. Our goal is to conclude the sale of Speedline Technologies as soon as possible.
Q. Is Cookson Electronics planning on selling other businesses?
A. No. Cookson Electronics has no plans to sell other lines at this time. In fact, we will be looking for ways to grow each of our core materials businesses through alliances and acquisitions.
Q. What specific plants and facilities are involved worldwide?
A. This sale will involve Speedline offices and operations in Franklin, MA; Londonderry, NH; Camdenton, MO; Elgin, IL; Singapore and Dreieich, Germany.
Q. Will Cookson Electronics change its name?
A. No. The core business of Cookson Electronics will continue to be developing and producing advanced materials for the electronics industry.
Q. How will the sale of Speedline Technologies affect Speedline customers?
A. We do not anticipate any impact to customers. All key R&D programs and customer-related projects will remain intact throughout the sale process. Speedline is committed to maintaining the highest level of service and support around the world through its highly-qualified and respected network of direct sales/service employees and approved representative firms and distributors.
We are looking forward to a new focused investor that will continue to invest in the company�s leading R&D and service capabilities.
Speedline Customer Questions & Answers
Q. What happens to the integrated solutions strategy from Cookson Electronics?
A. Cookson Electronics will continue to leverage its unique process expertise across its different materials businesses to offer best-in-class solutions to the industry in areas such as lead-free manufacturing, fine-feature printing and wafer-level packaging.
Cookson Electronics also recognizes that its customers can significantly benefit from the joint leverage of technology and process knowledge between Speedline and Cookson Electronics materials businesses. Cookson Electronics will therefore seek to maintain strong technical cooperation with Speedline and its new owners to continue multiple joint R&D and process application projects both in SMT and semi conductor packaging.
Q. Please describe the remaining divisions and their core businesses related to materials.
A. Cookson Electronics PWB Materials & Chemistry is a worldwide leading supplier of laminates and chemistry products used for the fabrication of printed wiring boards. Cookson Electronics PWB Materials & Chemistry Group is organized in two major businesses. Polyclad Laminates is one of the world�s leading manufacturers of high performance laminates, prepregs and resin coated copper foils used in printed wiring boards.
Enthone is a worldwide, leading supplier of high-performance specialty chemicals and coatings used in the electronics and surface finishing industries. Enthone manufactures, markets and distributes functional, decorative and electronic processes used in printed wiring board, semiconductor, automotive, aerospace, jewelry, and hardware and plumbing applications.
Cookson Electronics Assembly Materials, is the global leader in the development, manufacturing and sales of materials used in both the electronics assembly and semiconductor packaging processes. With a worldwide presence in 50 locations throughout the Americas, Europe and the Asia/ Pacific region, this division supplies a full line of products including solders, stencils, cleaners, fluxes, adhesives, spheres and molding compounds. Further, Cookson Assembly Materials markets a full line of environmentally friendly, lead-free electronic assembly products.