Company Increases Investment from 50.5% to 67%
WESTWOOD, Mass., May 16 /PRNewswire/ -- LTX Corporation (Nasdaq: LTXX), a
leading supplier of semiconductor test equipment, today announced a
significant increase in ownership in LTX Co., Ltd., a joint venture with
Sumitomo Metal Industries, Ltd. (SMI). LTX formed the joint venture with SMI
in 1990, to provide for the sales, support and manufacturing of LTX products
in Japan. The investment, which represents an additional 285 million yen
(approximately $2.4 million U.S. dollars), is in response to the growing
demand for LTX semiconductor test equipment in Japan.
Roger Blethen, President and CEO of LTX, stated, "Our ownership increases
from 50.5% to 67%, which will allow us to increase sales, marketing and
support activities to meet the demands for LTX semiconductor test equipment in
the region. SMI will continue to be a valuable partner as we develop our
business in Japan."
LTX Corporation is a leading supplier of mixed signal, digital, linear,
and discrete semiconductor test equipment. Headquartered in Westwood, MA, the
Company has development and manufacturing facilities in Westwood, MA and San
Jose, CA, and worldwide sales and service facilities to support its customer
base. LTX is traded on the NASDAQ National Market under the symbol, "LTXX".
Investor information is available by calling 1-888-INFOLTX. LTX's web site is
Sumitomo Metal Industries, Ltd. is a diversified manufacturer of steel
products; a supplier of construction, plant, and system engineering services;
and a provider of products and services to the biotechnology, electronics,
semiconductor manufacturing and new materials industries. Headquartered in
Osaka, Japan, SMI had sales of 1.05 trillion yen (approximately $10 billion
U.S. dollars) for its year ended March 31, 1996, and has over 100 subsidiaries
and affiliates throughout the world.
SOURCE LTX Corporation
/CONTACT: John Arcari of LTX Corporation, 617-461-1000 or
CO: LTX Corporation; Sumitomo Metal Industries, Ltd.
ST: Massachusetts, California
IN: CPR MNG
-0- (PRN) May/16/97 13:17
EOS (PRN) May/16/97 13:17 86
-0- (PRN) May/16/97 13:32
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