<Belated> Positive News
Significant expansion of Micrascan capacity. SVGI claims I am on their fax list, but I did not receive a fax of the following press release. It sounds VERY favorable, yet the stock price has not reacted favorably...
Here's the press release off of Yahoo Business NewSearch:
Thursday May 8 8:32 AM EDT
Company Press Release
Silicon Valley Group opens new facility in Ridgefield, Connecticut
Expansion to accommodate increased demand for DUV lithography systems
SAN JOSE, Calif.--(BUSINESS WIRE)--May 8, 1997--Silicon Valley Group (SVG), (NASDAQ:SVGI), the worldwide market and technology leader in deep ultraviolet (DUV) lithography systems for the semiconductor industry, today announced the official opening of its new development and manufacturing facility in Ridgefield, Conn.
Acquired in late 1996, the new facility will significantly raise SVG's existing production capacity for the manufacture of its Micrascan series of DUV lithography systems.
The leading DUV step-and-scan lithography supplier in the world, SVG expects the new facility to help maintain this market position by increasing company-wide manufacturing capacity by five times that of its 1996 volume.
The 200,000 square foot site will allow expansion of SVG's existing manufacturing facility in Wilton, Conn., by housing a variety of support functions, including advanced development, development engineering, materials, sub-assembly, finance and administration. The building also features 6,000 square feet of Class 1,000 cleanrooms with additional space for future manufacturing facilities.
According to Ed Dohring, president of SVG's lithography subsidiary (SVGL), the site will also provide vital customer and field service support functions. ``The Ridgefield facility houses our new training center, which allows hands-on instruction with the Micrascan system,'' stated Dohring. ``Both customers and employees will have a complete resource center for mastering the Micrascan's operational and maintenance procedures.''
Dohring also noted that the costs associated with opening the new facility are part of a $150 million commitment SVG has made toward increasing manufacturing capacity for the Micrascan series during the 1997 fiscal year.
According to SVGL's Vice President of Manufacturing Marshall Yudin, the company's expansion provided employees with the opportunity to be involved in the planning of the facility. ``This project gave us the opportunity to involve the newly assigned workforce in its design and layout from the beginning,'' stated Yudin. ``Leveraging our existing employees' knowledge and experience has resulted in a highly efficient and employee-friendly worksite.''
Yudin added that SVG's newly assigned workforce for the Ridgefield facility consists of 300 employees, and is expected to increase to over 500 by the end of the year.
On May 23, 1997, SVG will host an on-site celebration of the opening of its new Ridgefield facility. Special recognition will be given to SEMATECH and other organizations credited with the support and promotion of the Micrascan technology since its inception.
About Silicon Valley Group Inc.
SVG is a leading manufacturer of automated wafer processing equipment for the worldwide semiconductor industry. The company designs, manufactures, and markets technically sophisticated equipment used in the primary stages of semiconductor manufacturing. Its products include photoresist processing equipment; oxidation, diffusion and low-pressure chemical vapor deposition processing systems; and photolithography exposure tools that use step-and-scan technology.
SVG is listed on the Nasdaq Stock Market under the symbol SVGI. The company's World Wide Web address is: svg.com .
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