GST (Global Silicon Technologies, USA) Withdraws From Rasa Industries (Japan) Acquisition

Mar 16, 2011, 13:13 ET from Global Silicon Technologies, Inc.

NEW BEDFORD, Mass., March 16, 2011 /PRNewswire/ -- Effective 2011-02-07, GST withdraws from Rasa Industries Acquisition.  Reference PR Newswire, 2010-12-14 press release, "(Tokyo, Japan) Rasa's semiconductor silicon wafer reclaim processing business assets sold to RSTec (Japan)".

Following a period of due diligence and negotiations GST, Eiki Shoji Co. Ltd (Japan) and Smart Richtime Limited (Hong Kong) were unable to reach mutual agreement.  GST has withdrawn from the acquisition of Rasa Industries, Ltd's semiconductor silicon wafer reclaim processing business and will not equity invest in the recently established RSTec (Japan).  

References:

http://www.prnewswire.com/news-releases/rasas-semiconductor-silicon-wafer-reclaim-processing-business-assets-sold-to-rstec-japan-111869379.html

http://www.tradingmarkets.com/news/stock-alert/rataf_rssyd_hong-kong-backed-firm-buys-japan-based-rasa-s-wafer-reclaim-ops-1474670.html

SOURCE Global Silicon Technologies, Inc.