SpeedFam-IPEC and SCH/APTI Announce China Sales and Service Partnership
APTI Will Provide CMP Sales Support and Service Throughout Mainland China
CHANDLER, Ariz.--(BUSINESS WIRE)--April 11, 2002--SpeedFam-IPEC, Inc. (Nasdaq:SFAM - news), a global supplier of leading-edge chemical mechanical planarization (CMP) systems for advanced semiconductor manufacturing, has announced that SCH/Asian Power Technology Inc. (APTI) will represent SpeedFam-IPEC in the People's Republic of China. APTI will sell SpeedFam-IPEC's diverse portfolio of CMP equipment throughout mainland China and also will provide technical support as well as spare parts and consumables stocking. APTI, a subsidiary of Shing Chung Hong (SCH) Electronics group, is located in both Shanghai and Tianjin, China.
SpeedFam-IPEC Executive Vice President Giovanni Nocerino said, ``China is attracting foreign investments in wafer fabrication facilities at the same time local and provincial governments are planning aggressive schedules aimed at the semiconductor industry. In fact, industry analysts predict China's semiconductor market will grow from last year's $13 billion to $34 billion by 2005.''
SCH President Joe Lin said, ``SCH/APTI has a broad range of top capital equipment suppliers among its client roster. The addition of SpeedFam-IPEC to our client group bolsters our products and services offerings to include a CMP innovator at a time when China is quickly establishing itself as a growing chip manufacturing center.''
Nocerino added, ``SpeedFam-IPEC's preparation for the coming upturn includes an aggressive penetration plan for mainland China. We selected SCH/APTI as our partner in these efforts based on the organization's decades-long success record in both Taiwan and the People's Republic of China. SCH/APTI has an impressive client list of leading electronics manufacturers and has earned a reputation for the highest levels of service and technological expertise. We are confident SCH/APTI will be an able representative of SpeedFam-IPEC's innovative CMP product portfolio.''
SpeedFam-IPEC, Inc.
SpeedFam-IPEC, Inc. is a pioneer and innovator in the manufacture of chemical mechanical planarization (CMP) systems used in the fabrication of advanced semiconductor devices. With more than 1,300 CMP systems installed worldwide, the company enables the development of next-generation integrated circuit technology through its leading-edge polishing systems. SpeedFam-IPEC also markets and distributes parts used in CMP and precision surface processing. With headquarters in Chandler, Ariz., and offices throughout the world, SpeedFam-IPEC is publicly traded on Nasdaq under the symbol SFAM. The company's web site URL is www.sfamipec.com.
This press release includes statements that constitute ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995 (the ``Reform Act'') and SpeedFam-IPEC claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms ``may,'' ``believes,'' ``projects,'' ``expects,'' or ``anticipates,'' and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: (i) SpeedFam-IPEC's belief that China is attracting foreign investments in wafer fab facilities and local and provincial governments are planning aggressive schedules aimed at the semiconductor industry; (ii) the predicted growth of China's semiconductor market; (iii) SpeedFam-IPEC's assertion that there will be an industry upturn; and (iv) SpeedFam-IPEC's assertion that it will implement an aggressive penetration plan for mainland China during the next upturn.
Forward-looking statements involve risks, uncertainties and other factors that may cause actual results, performance or achievements of SpeedFam-IPEC to be materially different from those expressed or implied by such forward-looking statements. Factors that could affect SpeedFam-IPEC's results and cause them to materially differ from those contained in the forward-looking statements include risks set forth in SpeedFam-IPEC's filings with the SEC, including the Annual Report on Form 10-K filed on August 24, 2001 and the Quarterly Report on Form 10-Q filed on April 10, 2002 and include (i) current depressed market conditions in the semiconductor industry; (ii) SpeedFam-IPEC's ability to preserve its capital reserves, and raise or generate sufficient capital to fund operations; (iii) the possible significant dilution of the Company's outstanding common stock in connection with any new financing or refinancing; (iv) the ultimate success of SpeedFam-IPEC's business model, which is highly predicated on the successful market acceptance of its Momentum and Momentum300 products. Sales of Momentum may not occur on the scale or in the time frame anticipated; (v) possible constraints on the roll-out of Momentum tools due to manufacturing problems, unforeseen technical problems or changes in the CMP marketplace that differ from the company's expectations; (vi) SpeedFam-IPEC's dependence on selling a small number of high-priced machines to a small number of major customers; (vii) intense competition from companies with greater resources; (viii) prospects of, and risks related to, international markets and global economy, given that SpeedFam-IPEC depends heavily on international sales; and (ix) other factors that SpeedFam-IPEC is currently unable to identify or quantify, but may exist in the future.
Forward-looking statements speak only as of the date the statement was made. SpeedFam-IPEC does not undertake and specifically declines any obligation to update any forward-looking statements.
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Contact:
SpeedFam-IPEC, Inc.
Tamara M. Berry, 480/705-2473 (Marketing Communication)
tberry@sfamipec.com
Lisa Lyscio, 480/705-2119 (Investor Relations)
llyscio@sfamipec.com |
