Ade Corp – ‘8-K’ for 6/11/98 – EX-20

As of:  Friday, 6/26/98   ·   For:  6/11/98   ·   Accession #:  927016-98-2532   ·   File #:  0-26714

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         3     13K 
 2: EX-2        Agreement & Plan of Merger                            36    141K 
 3: EX-4.6      Registration Rights Agreement                          9     35K 
 4: EX-20       News Release Dated June 15, 1998                       2      9K 

EX-20   —   News Release Dated June 15, 1998

EX-20
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                                                                      EXHIBIT 20

ADE                                NEWS RELEASE                                 

FOR IMMEDIATE RELEASE     CONTACT:   Mark D. Shooman                            
                Vice President and CFO
June 15, 1998                        (781) 467-3702                             

ADE CORPORATION COMPLETES MERGER WITH 
PHASE SHIFT TECHNOLOGY, INC.

WESTWOOD, MA - ADE Corporation (NASDAQ: ADEX) a leading supplier of metrology   
and inspection equipment for the silicon wafer and computer hard disk industries
and Phase Shift Technology, Inc announced today that the merger of the companies
was completed on June 11, 1998.  Phase Shift, a leading manufacturer of         
interferometric-based metrology products providing enhanced yield management for
the semiconductor and computer hard disk industries, will operate as a          
subsidiary of ADE out of its Tucson, Arizona location.                          

Under the terms of the merger, which was initially announced on March 17, 1998, 
Phase Shift stockholders received 2,000,000 shares of ADE common stock.  The    
merger will be accounted for as a pooling of interests transaction.  Phase      
Shift, which was privately held, had unaudited revenues of approximately $12    
million in the twelve months ended April 30, 1998.  The transaction is expected 
to be accretive to ADE's earnings.                                              

Robert C. Abbe, President of ADE commented, "This merger enhances ADE's growing 
suite of critical, automated measurement capabilities for its semiconductor and 
computer hard disk customers.  Current and planned Phase Shift products         
complement ADE's "one stop shopping" strategy, which is to offer a broader      
spectrum of technologies to address our customers' yield management needs.      
Phase Shift brings world-class interferometric and optical technologies to the  
ADE family of measurement capabilities.  All of us at ADE look forward to       
working with the Phase Shift team."                                             

Chris Koliopoulos, President of Phase Shift Technology stated, "Phase Shift is  
excited about being a part of ADE Corporation.  Phase Shift's interferometer-   
based products are a natural extension of ADE's current product line for both   
the semiconductor and computer hard disk industries. ADE's expertise in         
automated metrology tools, as well as its extensive worldwide sales and service 
network, will help us to distribute more effectively our existing products. In  
addition, together we look forward to developing many exciting new products for 
our mutual customers."                                                          

(more)

EX-20
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This news release contains certain forward-looking statements that are subject  
to known and unknown risks and uncertainties that could cause actual results to 
differ materially from those expressed or implied by such statements.  Such     
risks and uncertainties include, but are not limited to ways the companies could
work together, the development of new products, and comments about future       
revenue and earnings.                                                           

ADE Corporation is a leading supplier of metrology and inspection systems for   
the silicon wafer and computer disk manufacturing industries.  The Company's    
systems analyze and report product quality at critical manufacturing process    
steps and provide quality certification data that is relied upon by             
semiconductor and computer disk manufacturers.  The Company's systems also are  
used in the fabrication of integrated circuits.  Additional Company information 
is available on the Internet at www.ade.com and www.phase-shift.com.            

# # # 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		6/26/98
		6/15/98		1
For Period End:		6/11/98		1					8-K/A
		4/30/98		1					10-K
		3/17/98		1					10-Q
									List all Filings