Neo-Neon Places Initial Order for Veeco K465i MOCVD System
July 16, 2010
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