Eventually (one would think, anyway), Mr. Market will recognize the fact that VECO just keeps selling more and more MOCVD systems. Here are another 130 or so systems over the next year or two (at least, the "vast majority" of 130, whatever that means).
Elec-Tech Selects Veeco MOCVD as "Tool of Choice" for Two New China LED Factories
Press Release Source: Veeco Instruments Inc. On Thursday August 12, 2010, 5:00 pm EDT
finance.yahoo.com
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Veeco Instruments Inc. (Nasdaq: VECO - News) announced today that Elec-Tech International has selected its TurboDisc® K465i Metal Organic Chemical Vapor Deposition (MOCVD) systems as their “tool of choice” for two new LED factories in Wuhu and Yangzhou, China. In August Veeco booked the initial systems from a large multi-tool purchase order from Elec-Tech’s LED subsidiary, Elec-Tech Optoelectronic Technology (Wuhu) Co., Ltd.
Tony Wang, Chairman of Elec-Tech commented, “Our Board of Directors has approved our plan to purchase 130 MOCVD tools to ramp production capacity at our two LED factories. Our goal is to become one of the top three LED companies by output and sales revenue in China within two years, focusing primarily on the general lighting and BLU market, but on other applications as well.”
Mr. Wang continued, “After a thorough evaluation of the available MOCVD products, we selected Veeco as our preferred and primary supplier for the vast majority of the 130 MOCVD systems we will be installing at our new factories. We believe that Veeco’s MOCVD systems have low cost-of-ownership and proven high productivity, and will help us to achieve success in the LED market.”
Bill Miller, Ph.D., Executive Vice President, General Manager of Veeco's MOCVD Operations, commented, “We are extremely pleased that Elec-Tech has chosen Veeco for their production requirements as they build out their aggressive plans in China. We look forward to supporting this important new customer with our best-in-class systems and world-class applications process support.”
About Elec-Tech
Elec-Tech International is a Shenzhen-listed electronics company that has signed a joint venture cooperative agreement with South Korean firm EpiValley to jointly develop the Chinese LED market. |
