SAES Getters Announces the Closing of the Acquisition of Memry Corporation

SAES Getters S.p.A. announces the closing of the acquisition of Memry Corporation, an American company focused on manufacturing
advanced products for the medical device industry, utilizing shape memory alloys based on nitinol and extruded plastic materials.

Following the signature of the agreement and plan of merger, announced on June 24, 2008 and approved at the special shareholders meeting of Memry Corporation held  in Bethel, CT, Saes Devices Corp., a Delaware corporation, has been merged with and into Memry Corporation, with the latter as the surviving company.

Memry Corporation’s shares are no longer listed on the American Stock Exchange and Memry is now a wholly owned U.S. subsidiary of SAES Getters International Luxembourg S.A.

The purchase price was $78.4 million in cash, resulting in a consideration of $2.53 for each share of Memry Corporation’s common stock.

Headquartered in Connecticut (with one plant in Bethel and one in Dayville) and with two manufacturing facilities in Menlo Park, CA, Memry is a leading provider of design support, engineering, development, and manufacturing services to the medical device and
other industries using the company’s proprietary technologies. Memry is a technical leader in the fields of shape memory alloys and sophisticated polymer extrusions. The company’s major products include stent components, catheter components, laparoscopic sub-assemblies and complex multi-lumen, multi-layer extrusions used for guidewires, catheter shafts and other delivery systems. The company employs approximately 350 people.

For the fiscal years ended on June 30, 2008 and June 30, 2007, Memry Corporation reported revenues of $56.2 million and $51.7 million respectively. Gross profit was $18.5 million versus $16.6 million in the previous year. In Fiscal Year 2008, operating loss and net loss were $(1.1) million and $(0.7) million; in Fiscal Year 2007 operating income was $1.3 million and net income was $0.3 million. EBITDA1 was $2.2 million ($4.2 million in 2007), while adjusted EBITDA was $7.7 million ($6.5 million in 2007). Full Year 2008 figures were negatively affected by $4 million one-off costs for Kentucky Oil litigation defense and related settlement expenses, and transaction fees due to the merger (around $0.6 million).