Veeco Receives Follow-on Order from KaiStar to Support LED Manufacturing Ramp
January 22, 2013
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Jan. 22, 2013-- Veeco Instruments Inc. (Nasdaq: VECO) announced today that the Company has received an order for multi- and single-chamber TurboDisc® MOCVD Systems, including the new MaxBright® M™, from KaiStar Lighting Co., Ltd. KaiStar, a joint venture between Epistar Corporation and Shenzhen Kaifa Technology Co., Ltd., is based in Xiamen, China and began LED production in 2012. The systems will be added to KaiStar’s existing fleet of Veeco MOCVD systems as part of their 2013 capacity expansion plan.
MJ Jou, President of Epistar Corporation commented, “This latest capacity expansion in Xiamen is in keeping with our goal to maximize our position in the China LED backlighting, automotive and general illumination market. Since we originally selected Veeco as our MOCVD equipment supplier for KaiStar a year ago, we have been extremely impressed with the product quality, service and support we have received. A critical deciding factor has been Veeco’s quick process transfer which is important as we share know-how across our LED manufacturing sites. In addition, the TurboDisc’s low cost-of-ownership made it a straight-forward decision to turn to Veeco as we add more tools for KaiStar in 2013.”
Bill Miller, Executive Vice President of Veeco, commented, “We are pleased to support Epistar and Kaifa as they continue to expand their leadership position in the China market through KaiStar and their other joint ventures. We will remain focused on helping them to achieve their manufacturing goals.”
About the TurboDisc MaxBright M MOCVD Multi-Reactor System
Veeco’s TurboDisc MaxBright M GaN MOCVD Multi-Reactor System platform is the industry’s highest footprint efficiency MOCVD system designed to manufacture high quality, high brightness light emitting diodes. The MaxBright M provides up to 15% improved footprint efficiency, easier serviceability and offers accommodating layout configurations compared to the original MaxBright. For more information about Veeco’s suite of MOCVD systems visit: http://www.veeco.com/products/mocvd.aspx .
About KaiStar Lighting (Xiamen) Co., Ltd.
KaiStar, a joint venture between Epistar Corporation and Shenzhen Kaifa Technology Co., Ltd., has registered capital of USD$120 million. The Company plans to focus on the lighting market through the production of green and white LEDs for display and backlighting applications, lamps and automotive products.
Veeco’s process equipment solutions enable the manufacture of LEDs, power electronics, hard drives, MEMS and wireless chips. We are the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies. Our high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow our customers to maximize productivity and achieve lower cost of ownership. For information on our company, products and worldwide service and support, please visit 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, 2011 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press release. 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