ATMI to sell epitaxial services to International Rectifier

June 30, 2004 – ATMI Inc. has entered into a definitive agreement to sell its specialty silicon epitaxial services business located in Mesa, AZ, to International Rectifier Corp., subject to customary closing conditions and certain third party approvals.

Under the terms of the agreement, International Rectifier will pay ATMI up to $41 million in cash for the operations and assets of the group, including related intellectual property, fixed assets, and inventory, according to the company’s web site.

Approximately 90 employees will join IR as part of the agreement. The transaction is expected to close in the September quarter, and IR expects the acquisition to be accretive within the first 12 months.


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