Veeco Announces Asia Expansion Plan
Press Release Source: Veeco Instruments Inc. On Thursday October 14, 2010, 5:00 pm EDT
finance.yahoo.com
PLAINVIEW, N.Y. & SHENZHEN, China--(BUSINESS WIRE)-- At the 7th China International Forum for Solid State Lighting, John R. Peeler, Chief Executive Officer of Veeco Instruments Inc. (NASDAQ:VECO - News), announced a significant expansion of Veeco’s Asia presence in order to better support the rapid growth of the LED industry and the needs of its customers.
“We see a tremendous opportunity to help our Asian customers to ‘go faster’ to advance brightness and decrease the cost of LEDs,” commented Mr. Peeler. “Veeco intends to provide an unprecedented level of technology development on latest-generation metal organic chemical vapor deposition (MOCVD) systems, customer training, and world class service and support.”
Veeco’s Expansion Plan Includes:
* Shanghai, China - Shanghai Training Center (STC): Customer Support & Training (Target Opening Q1 2011)
* Hsinchu, Taiwan- Taiwan Technology Center (TTC): State-of-the-Art Applications Center & Demo Lab (Target Opening Q1 2011)
* Korea Development Center (KDC): World-Class Engineering & Process Development Center. Site to include Tool Demos and Customer Training (Target Opening 2H 2011)
* Singapore: Expanded Manufacturing Center & Supply Chain Hub
* Japan: Move to Direct Sales & Service for MOCVD from prior representative sales (Target effective date January 2011)
Mr. Peeler added, “As our Asian customers continue to accelerate the pace of adoption of LEDs for consumer electronics and solid-state lighting, we believe this strategic investment of more than $25 million will position Veeco as the region’s top equipment supplier and ensure the mutual success of Veeco and our customers. Over time, we will also leverage these new sites to support our customers in Solar and other clean tech markets.” |
