MATTSON TECHNOLOGY
ANNOUNCES ADDITIONAL COST REDUCTION ACTIONS
FREMONT, Calif.- December 12, 2002 - Mattson Technology,
Inc. (NASDAQ: MTSN), a leading supplier of advanced process
equipment used to manufacture semiconductors, today announced
that it is implementing additional cost-reduction measures
as part of its continuing effort to size the Company to the
protracted economic downturn. The Company will implement
a reduction in force and other cost-savings programs that
will affect approximately 25 percent of its global workforce
once fully completed. In addition, Mattson Technology continues
to rationalize its product lines and operations in order
to reduce its breakeven point and reach positive cash flow
from operations. These actions followed significant cost-reduction
programs implemented by the Company last year.
“Through product rationalization efforts, we have
strengthened our focus on core business activities and continued
investment in critical product and technology development
programs that will enable Mattson Technology to take full
advantage of the eventual market recovery,” said Robert
MacKnight, Mattson Technology chief operating officer. “These
steps have significantly reduced our cost structure and will
enhance our financial position. The protracted downturn has
made additional actions necessary to align our operations
with the current economic conditions in our industry.”
“We continue to identify additional ways to streamline
the company to develop an organization that is positioned
to achieve sustainable earnings at all points in the market
cycle,” said David L. Dutton, president and chief executive
officer of Mattson Technology. “We also remain focused
on maximizing the account penetration and growth potential
of our leading-edge products and expanding our relationships
with our key customers. We believe these extra efforts will
enable Mattson Technology to emerge from this downturn with
an even stronger competitive position globally.”
About Mattson Technology, Inc.
Mattson Technology,
Inc. is a leading supplier of semiconductor wafer processing
equipment used in "front-end" fabrication
of integrated circuits. The company is a market leader in
dry strip and RTP equipment, and its products combine advanced
process technology on high-productivity platforms backed
by industry-leading support. Since beginning operations in
1989, the company’s core vision has been to help bring
technology leadership and productivity gains to semiconductor
manufacturers worldwide. Headquartered in Fremont, Calif.,
the company maintains sales and support centers throughout
the United States, Europe and Asia. For more information,
please contact Mattson Technology, Inc., 47131 Bayside Parkway,
Fremont, Calif. 94538. Telephone: (800) MATTSON/(510) 657-5900.
Fax: (510) 492-5911. Internet: www.mattson.com.
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