Newbridge Asia takes over AMT

Newbridge Asia takes over AMT

JAKARTA (JP): Private equity company Newbridge Asia announced
on Monday that it had signed an agreement to acquire 100 percent
of the shares of PT Astra Microtronics Technology (AMT), a
subsidiary of publicly listed PT Astra International and PT Astra
Graphia, for US$90 million.

Newbridge Capital Southeast Asia managing director Bien Kiat
Tan said that Newbridge's investment reflected the company's
confidence in Indonesia's economy and the country's long-term
growth prospects.

"Despite the current downturn in the semiconductor industry,
we are very excited about the long-term growth prospects of AMT,"
Tan said.

"AMT's Indonesian employees have demonstrated their ability to
produce world-class products in the high-technology field of
semiconductor manufacturing."

He cited that AMT's strong management team and workforce of
3,600 highly-trained employees and Newbridge's capital backing as
key strengths to enable the company to continue expanding
aggressively.

Based in Pleasanton, California, and Batam Island, AMT claims
to be one of the world's leading providers of subcontract
assembly and test services to the global semiconductor industry.

AMT Indonesia was established in 1991.

The export-oriented company produces semiconductor products on
a subcontractor basis in the fields of integrated circuit
assembly and final test services.

AMT's revenues have grown about 30 percent over the last three
years and are on track for a similar record this year.

AMT's customer base includes large integrated circuit
manufacturers and its sales revenues are denominated entirely in
U.S dollars.

Newbridge is an emerging markets equity firm backed by two
well-known U.S investment groups, Texas Pacific Group and Richard
C. Blum and Associates (RCBA).

It currently manages approximately $800 million of investment
Southeast Asian, North Asia, Latin America and the Andean Region.
(gis)