Related Party Transaction

12 Months Ended

Sep. 30, 2020

Related Party Transactions [Abstract]

Related Party Transaction

16.  Related Party Transaction

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.

In 2015, we deconsolidated Kingstone, reducing our ownership to 15% of Kingstone Hong Kong.  Effective June 29, 2018, we sold our remaining 15% ownership interest in Kingstone Hong Kong to the majority owner for approximately $5.7 million.  We recognized a pre-tax gain on the sale of approximately $2.9 million.  The 2018 gain is reported as a gain on sale of other assets in our Consolidated Statements of Operations.  Kingstone Hong Kong and its owners are no longer related parties of Amtech.