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Cofer Corp. and Surface Mount Taping Corp. Merge

22 February 1999

Cofer Corp. and Surface Mount Taping Corp. Merger Brings Together Industry Leaders

    SAN JOSE, Calif.--Feb. 22, 1999--HIG Capital Management, Miami, Fla. announced today the acquisition of Cofer Corp., a back-end packaging company serving the semiconductor and related industries.
    HIG also recently completed a buyout of Surface Mount Taping Corp. (SMT), Austin, Texas. The combining of these companies creates the largest back-end supplier of tape and reel packaging in the country. A new name will be chosen within weeks.
    States Ron Cofer, CEO, Cofer Corp., "This partnership allows us to better meet the challenges of a changing market and expand our global presence while maintaining the high standards of quality and service that our customers expect." Cofer will maintain the role of CEO. Eric Loeffel, president and CEO of SMT, will be president.
    "The acquisition of Cofer is an important step in our vision of creating a substantial world-wide provider of back-end manufacturing services to the semiconductor and electronic device industries," commented John Black, HIG Capital Management. "They have tremendous resources, a strong management team and an excellent reputation."
    HIG is a private investment firm specializing in providing high growth middle market companies with the financial and operational resources to assist management in their growth plans. HIG has invested in over 40 such companies, with annual sales in excess of $2 billion.
    Founded in 1982, Cofer Corp., San Jose, Calif., is a back-end packaging company serving the semiconductor, electronic device, assembly and manufacturing industries. Cofer Corp. specializes in value added tape and reel services which include lead/mark inspection and conditioning, bake and dry pack, and custom applications. Cofer has facilities in San Jose, Calif., Canon City, Colo., and the Philippines.
    Surface Mount Taping Corp. (SMT) is a back-end packaging company serving the semiconductor, electronic device, assembly and manufacturing industries. SMT specializes in value added tape and reel services which include lead/mark inspection and conditioning, bake and dry pack, lead trim/form and custom applications.
    SMT's focus is creating outsourcing solutions for these processes. SMT was formed in 1987 and currently has manufacturing facilities throughout the U.S. including San Jose, Calif., Austin and Dallas, Texas, and Greensboro, N.C. SMT is an ISO 9002 certified company.