Veeco Instruments Inc. (ticker: VECO, exchange: NASDAQ Global Market (.O))
News Release -
Neo-Neon Places Initial Order for Veeco K465i MOCVD System
PLAINVIEW, N.Y., Jul 16, 2010 (BUSINESS WIRE) --
Veeco Instruments Inc. (Nasdaq: VECO) announced today that Neo-Neon
Holdings Ltd., a leading lighting company listed on the Hong Kong
exchanges, has ordered its first Veeco TurboDisc(R) K465i Metal Organic
Chemical Vapor Deposition (MOCVD) system to support its LED
manufacturing capacity ramp at its JiangMen, China factory. Veeco
received the order during the recently completed second quarter.
Dr. Jurgen Yeh, Chief Technology Officer, commented, "Neo-Neon plans to
expand our LED wafer output seven-fold over the next three years. We
have decided to include Veeco's K465i MOCVD system in our plans due to
its proven high productivity as well as the recent uniformity and
repeatability advances that Veeco has achieved. We intend to move
quickly to expand our position in the general illumination market, and
require supplier partners that can keep pace with our plans." To fund
its expansion, Neo-Neon has recently raised NT$2.06 billion (U.S. $64
million) through a share issuance in Taiwan.
Bill Miller, Ph.D., Senior Vice President, General Manager of Veeco's
MOCVD Operations, commented, "Neo-Neon is a recognized LED industry
leader with a diversified product range and broad customer base. We are
therefore gratified to be a part of their capacity expansion plans."
Neo-Neon is a leading vertically integrated LED lighting manufacturer.
Neo-Neon International Ltd., founded in Taiwan in 1978, is one of the
largest seasonal decorative lighting manufacturers in the world. In 1989
Neo-Neon moved its production to He Shan, Guangdong Province on the
Chinese Mainland. Neo-Neon manufactures its own chips, packages,
encapsulates and LED lighting products. Neo-Neon is currently ranked in
the top six LED companies in the world according to its number of
patents, and in the top three in terms of lumens efficacy of its LEDs.
For information on Neo-Neon please visit their website at www.neo-neon.com.
Veeco Instruments, Inc. designs, manufactures, markets and services
enabling solutions for customers in the HB-LED, solar, data storage,
semiconductor, scientific research and industrial markets. We have
leading technology positions in our three businesses: LED & Solar
Process Equipment, Data Storage Process Equipment, and Metrology
Instruments. Veeco's product development, marketing, engineering and
manufacturing facilities are located in New York, New Jersey,
California, Colorado, Arizona, Massachusetts and Minnesota. Global sales
and service offices are located throughout the U.S., Europe, Japan and
Asia Pacific. http://www.veeco.com
To the extent that this news release discusses expectations or
otherwise makes statements 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.
SOURCE: Veeco Instruments Inc.
Veeco Instruments Inc.
Debra Wasser, 516-677-0200, ext. 1472
SVP Investor Relations & Corporate Communications
Fran Brennen, 516-677-0200, ext. 1222
Senior Director Marcom