Veeco Instruments Inc. (ticker: VECO, exchange: NASDAQ Global Market (.O))
News Release -
Genesis Photonics Places Multi-Unit Order for MaxBright MOCVD Systems
PLAINVIEW, N.Y., May 31, 2011 (BUSINESS WIRE) -- Veeco Instruments Inc. (Nasdaq: VECO) today announced that Taiwan based Genesis Photonics Inc. (GPI) has placed a multi-unit order for Veeco's recently released TurboDisc(R) MaxBright(TM) Multi-reactor MOCVD System. GPI will use the systems to increase capacity for the production of high brightness light emitting diodes (HB LEDs) being driven by applications such as backlighting, lighting, displays, and automotive.
David Chung, Chairman and CEO of GPI, commented, "We have been very pleased with the production proven performance of Veeco's K465i MOCVD systems already installed in our manufacturing facility. They helped us to achieve LED brightness higher than the industry average. By now adding Veeco's new MaxBright systems, we will further lower our LED manufacturing costs, maximize our fab space, and accelerate our productivity."
William J. Miller, Ph.D., Executive Vice President, Veeco LED & Solar, added, "It is gratifying to have the MaxBright system selected by GPI, one of Taiwan's top LED manufacturers. Our customers are resonating with the message that the MaxBright system can deliver more good LEDs for less money than other tools on the market. We are particularly pleased that GPI is choosing MaxBright, which further solidifies our relationship with this important customer as they grow their position in the LED industry."
About the MaxBright
The MaxBright system is the industry's most productive, lowest cost of ownership MOCVD system available to manufacture high brightness LEDs. Available in a 2 or 4-reactor cluster architecture, the MaxBright system delivers up to a 500% productivity gain and a 2.5x increase in footprint efficiency over the industry-leading K465i system. For more information, please visit www.veeco.com/maxbright
GPI (Genesis Photonics Inc.) was established in January 2002 and is headquartered in TNSIP (Southern Taiwan Science-Base Industrial Park). GPI focuses on providing GaN-based LED Epi-wafers, LED chips for lighting, display, backlighting, and auto lamp applications, and the most powerful LED chips for scientific, industrial, and research applications. www.g-photonics.com
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 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, 2010 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 x1472
SVP Investor Relations & Corporate Communications
Fran Brennen, 516-677-0200 x1222
Senior Director Marcom