Fursa continues to push for changes at ASM International

By Lisa Kerner

Charlotte, N.C., Feb. 26 - Fursa Alternative Strategies LLC reiterated its desire to discuss potential alternatives through which ASM International NV can enhance shareholder value.

The investor said that if discussions with ASM's supervisory board fail to substantially progress within a reasonable time, Fursa will consider its alternatives, including an exchange offer for ASM.

Fursa made its comments in a Feb. 26 letter to the board and management of ASM. The letter, along with a presentation of the investor's plan, was included in an amended schedule 13D filing with the Securities and Exchange Commission.

Fursa had met with experts from the wafer processing industry and ASM senior management on Feb. 18 in Bilthoven, the Netherlands. Members of ASM's supervisory board were not in attendance.

In January, Fursa outlined its three-year plan to "reinvigorate" the company's front-end business and asked that the plan's creators be appointed to a restructured, one-tier board.

Fursa holds a 10.3% stake in the Bilthoven, Netherlands-based designer and manufacturer of equipment and materials used to produce semiconductor devices.

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