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 at ltx.com. 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 -0- 05/16/97 /CONTACT: John Arcari of LTX Corporation, 617-461-1000 or email@example.com/ (LTXX) CO: LTX Corporation; Sumitomo Metal Industries, Ltd. ST: Massachusetts, California IN: CPR MNG SU: JVN -0- (PRN) May/16/97 13:17 EOS (PRN) May/16/97 13:17 86 â -0- (PRN) May/16/97 13:32
LTX CORPORATION INCREASES OWNERSHIP IN JAPANESE JOINT VENTURE
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