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NEWS RELEASE Exhibit 99.1
CONTACT: Robert C. Hewitt
Vice President, Chief Financial Officer
949.253.1405
E-mail: [email protected]
Website: www.newport.com
Cecilia A. Wilkinson/Mike Pollock
Pondel/Wilkinson Group
310.207.9300
E-mail: [email protected]
NEWPORT ACQUIRES ROBOTICS SPECIALIST, UNIQUE EQUIPMENT COMPANY, TO ENHANCE
FIBER OPTICS MATERIALS HANDLING SOLUTIONS
Irvine, California - September 1, 2000 - Newport Corporation (Nasdaq:NEWP)
today announced that it has acquired Unique Equipment Company, a systems
integrator specializing in the use of robotics for the fiber optics and
semiconductor industries. The acquisition, which will be accounted for as a
pooling of interests, is expected, excluding acquisition-related expenses, to be
accretive to Newport's earnings during the current year.
Unique Equipment, based in Chandler, Arizona, provides custom-engineered
automation systems, utilizing robotics, lasers, machine vision and precision
material handling systems (www.unique-equip.com). Newport intends to incorporate
Unique's expertise in both systems design and process problem-solving to enhance
Newport's next-generation assembly and test automation and materials handling
solutions which are necessary for the fiber optic communications industry to
continue to achieve greater throughput, higher yields, better reliability,
increased performance and lower cost.
"Unique's many years of experience in solving complex part handling and
automation solutions is an important complement to the micro fiber alignment and
attachment capabilities Newport has developed within our fiber optics assembly
automation business," said Robert G. Deuster, Newport's chairman, president and
chief executive officer. "By combining the talents of Unique's professionals
with the well-established leadership of our fiber optics division, we believe
Newport's customers will now have access to the most experienced team in total
automation solutions for the fiber optic component industry. With many customers
seeking large-scale, turnkey assembly and test solutions and the capacity to
deliver proven results, Newport is now capable of addressing all of the key
aspects of a fully automated assembly strategy."
Dan A. Petrescu, vice president and general manager of Newport's Fiber
Optics and Photonics Division, added: "Through this acquisition, we are adding a
new dimension of
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automation to our materials handling expertise, especially through the
application of robotics. Unique Equipment brings Newport closer to our goal to
be the leading one-stop solution provider for automated assembly systems and
test equipment for fiber optics component manufacturing. We are particularly
pleased with Unique's extensive experience in automation for small part
handling, laser-based systems and assembly station design. This is a proven
team, nearly 40-strong and in business since 1986, that is used to working on
large-scale contracts and gaining repeat business from a quality client base. We
are excited to have them onboard."
Carmichael & Company LLC of New York acted as the financial advisor to
Unique.
Newport Corporation is a global leader in the design, manufacture and
marketing of high-precision components, instruments and integrated systems to
the fiber optic communications, semiconductor equipment, computer peripherals
and scientific research markets. The company's innovative products are designed
to enhance productivity and capabilities of test and measurement and automated
assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research
laboratories in commercial, academic and government sectors worldwide.
The statements in this press release, including the statements made by
Robert G. Deuster and Dan A. Petrescu, are forward-looking statements that
involve a number of risks and uncertainties. As discussed in Newport's Annual
Report on Form 10-K for the year ended December 31, 1999, assumptions relating
to the foregoing involve judgments with respect to, among other things, the
ability of Newport to successfully integrate Unique Equipment Company with
Newport's other operations; the contributions of Unique Equipment Company to
Newport's fiber optics business strategy; future economic, competitive and
market conditions, including those in Europe and Asia and those related to
Newport's strategic markets, particularly the fiber optics and photonics market;
whether its products, particularly those targeting the company's strategic
markets, will continue to achieve customer acceptance; and future business
decisions, all of which are difficult or impossible to predict accurately and
many of which are beyond the control of Newport. Although Newport believes that
the assumptions underlying the forward-looking statements are reasonable, any of
the assumptions could prove inaccurate and, therefore, there can be no assurance
that the results contemplated in forward-looking statements will be realized. In
light of the significant uncertainties inherent in the forward-looking
information included herein, the inclusion of such information should not be
regarded as a representation by Newport or any other person that Newport's
objectives or plans will be achieved. Newport undertakes no obligation to revise
the forward-looking statements contained herein to reflect such events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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