At the 7th China International Forum for Solid State Lighting, John R. Peeler, Chief Executive Officer of Veeco Instruments Inc. (NASDAQ: VECO), announced a significant expansion of Veeco's Asia presence in order to better support the rapid growth of the LED industry and the needs of its customers.
"We see a tremendous opportunity to help our Asian customers to 'go faster' to advance brightness and decrease the cost of LEDs," commented Mr. Peeler. "Veeco intends to provide an unprecedented level of technology development on latest-generation metal organic chemical vapor deposition (MOCVD) systems, customer training, and world class service and support."
Veeco's Expansion Plan Includes:
- Shanghai, China - Shanghai Training Center (STC): Customer Support & Training (Target Opening Q1 2011)
- Hsinchu, Taiwan- Taiwan Technology Center (TTC): State-of-the-Art Applications Center & Demo Lab (Target Opening Q1 2011)
- Korea Development Center (KDC): World-Class Engineering & Process Development Center. Site to include Tool Demos and Customer Training (Target Opening 2H 2011)
- Singapore: Expanded Manufacturing Center & Supply Chain Hub
- Japan: Move to Direct Sales & Service for MOCVD from prior representative sales (Target effective date January 2011)
Mr. Peeler added, "As our Asian customers continue to accelerate the pace of adoption of LEDs for consumer electronics and solid-state lighting, we believe this strategic investment of more than $25 million will position Veeco as the region's top equipment supplier and ensure the mutual success of Veeco and our customers. Over time, we will also leverage these new sites to support our customers in Solar and other clean tech markets."
About Veeco
Veeco makes equipment to develop and manufacture LEDs, solar panels, hard disk drives, and other devices. We support our customers through product development, manufacturing, sales and service sites in the U.S., Korea, Taiwan, China, Singapore, Japan, Europe and other locations. Please visit us at www.veeco.com.
To the extent that this news release discusses expectations about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2009 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases.Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
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Veeco Instruments Inc.
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Debra Wasser,
516-677-0200 x1472
SVP Investor Relations & Corporate Communications
or
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Fran Brennen, 516-677-0200 x1222
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