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ASMI CEO Chuck delPrado Ousted From AMAT Talks - Newspaper

Last update: 8/18/2008 2:52:05 AM

AMSTERDAM (Dow Jones)--Dutch semiconductor equipment maker ASM International (ASMI) Chief Executive Officer Chuck del Prado was ousted from negotiations with chip maker Applied Materials Inc. (AMAT) two weeks ago for blocking the progress of the talks and been replaced by ASMI's chief financial officer, Het Financieele Dagbald reports Monday.

The Dutch financial daily cites sources within ASMI saying initially the negotiations with Applied Materials were very difficult, due in part to Chuck del Prado's resistance and inexperience in buying and selling businesses, which led to delays and confusion among the buyers. But the sources also say recently there has been progress.

ASMI has been in talks with Applied Materials since June about the sale of parts of the ASMI business.

An ASMI board member was cited as saying del Prado stepped away from the talks on his own accord to focus on running the business.

Newspaper Web site: www.fd.nl -By Roberta B. Cowan, Dow Jones Newswires; [phone]; [e-mail]


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