April 27, 2004 – Isonics Corp. has signed a letter of intent to acquire the silicon-wafer-manufacturing business and related assets from EnCompass Materials Group Ltd. (EMG), of Vancouver, WA, reports Health & Medicine Week. EMG manufactures silicon test wafers and provides wafer recycling services.
The purchase price will be approximately $3.5 million consisting of a term note, Isonics common stock, and the assumption of certain EMG liabilities. The parties expect the transaction to close in the second quarter of 2004.
Isonics focuses on the development of isotopically engineered semiconductor materials and is a supplier of silicon-on-insulator (SOI) wafers.