Plasma and Materials to Buy Rival for $150 Million

Plasma and Materials Technologies Inc., a Chatsworth maker of semiconductor manufacturing equipment, has agreed to acquire a larger British rival in a cash-and-stock transaction valued at about $150 million.

The deal to buy privately owned Electrotech Group is subject to the approval of PMT’s shareholders, the securing of financing and other conditions. The purchase is expected to be completed in October.

PMT said that Electrotech would give it a broader product line, increase its resources and expand its worldwide sales and service organization.

Electrotech’s 1995 sales totaled $54.4 million, with earnings of $8.7 million.