Reid-Ashman Inc. plans to acquire Solitec Inc.

The two Santa Clara-based firms said jointly that they have signed a letter of intent that calls for Reid-Ashman to acquire all outstanding common shares of Solitec for an undisclosed amount of cash and notes. Solitec is to operate as an autonomous subsidiary of Reid-Ashman, they said, although a definitive agreement is yet to be worked out. Both firms produce semiconductor industry equipment.