SAN JOSE, Calif., April 14, 2008 (PRIME NEWSWIRE) -- Electroglas, Inc. (Nasdaq:EGLS), a leading supplier of wafer probing solutions for the semiconductor industry, today announced that Amkor Technology (Nasdaq:AMKR), Seoul, Korea has entered into a Volume Purchasing Agreement with Electroglas, Inc. for Electroglas EG6000 300mm wafer probers.
The Electroglas EG6000 will be integrated into Amkor's production test facilities around the world and more specifically their sites in Korea, Taiwan and Singapore. Based on Amkor's forecast, and with positive market conditions, Electroglas revenue from this agreement will be in the multi-million dollar range over the course of this 12 month agreement.
Tom Rohrs, Chairman and CEO, Electroglas said: "Amkor has long been a global leader in assembly and test in the semiconductor industry. They have continued to push the state-of-the-art for high volume manufacturing efficiency in integrated circuits assembly and test. We are very pleased to formalize our procurement relationship with Amkor and see this agreement as a positive step in moving our partnership forward. This agreement paves the way for expedited purchases that will result in their ability to meet their capacity demands requirements through 2008. We look forward to our continued relationship with Amkor."
About Amkor Technology
Amkor is a leading provider of advanced semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronic design and manufacturing services. More information on Amkor is available from the company's SEC filings and on Amkor's web site: www.amkor.com.
About Electroglas
Electroglas is a leading supplier of innovative wafer probers, test floor management software and services that improve the overall effectiveness of semiconductor manufacturers' wafer and device testing. Headquartered in San Jose, California, the company has been a leading equipment supplier to the semiconductor industry for over four decades, and has shipped more than 16,500 systems worldwide. Electroglas' stock trades on the NASDAQ National Market under the symbol "EGLS." More information about the company and its products is available at www.electroglas.com.
Safe Harbor Statement
With the exception of the historical information contained in this release, the matters described herein contain certain "forward-looking statements" that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include statements relating to the Company's expectation that revenue from its agreement with Amkor could be in the multi-million dollar range over the course of this 12 month agreement. Forward-looking statements in this release are not promises or guarantees and are subject to risks and uncertainties that could cause actual occurrences to differ materially from those anticipated. Such risks include: continued cyclicality in the semiconductor industry; unanticipated product performance failures; failure of the Company to perform under the Amkor Agreement; or any other event or development that could cause delays or order cancellations. Other relevant risks, and risks to the Company's business in general, include the risks set forth in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed from time to time with the Securities and Exchange Commission. We caution you not to place undue reliance upon any such forward-looking statements.