Ultratech Stepper CEO: Chip Industry Near Bottom
Dow Jones Newswires -- July 16, 1998
NEW YORK (Dow Jones)--The microchip industry is close to the bottom of its
current downturn, according to Arthur Zafiropoulo, chief executive of Ultratech
Stepper Inc. (UTEK).
The drive market will begin to pick up a bit in the fall, while the memory business
will take a bit longer to turn around, Zafiropoulo said in an interview on CNBC
Thursday morning.
"Once we get through the summer, at least my company will see a little bit
more visibility in the drive industry," he said. "I think we'll see some improvements
next year slowly, and then the memory business lagging toward the middle or
end of next year," he said.
"In general, this downturn began in the end of 1995 with the memory price
erosion and that's really continued," he said.
He said his company's balance sheet is strong enough to enable Ultratech
Stepper to weather the Asian storm even if it continues beyond his forecast.
"We have about $160 million in cash and no debt," he said.
Ultratech Stepper makes photolithography steppers used in the fabrication of
semiconductors, micromachining devices, and thin film heads for disk drives.
The company has partnerships with suppliers such as DuPont Photomasks Inc.
(DPMI) and Photronics Inc. (PLAB).
Recently, Ultratech Stepper announced the acquisition of selected assets and
liabilities of Integrated Solutions Inc. The company recently established a direct
presence in Japan to enhance its ability to meet customers' requirements in
Japan.
-By Victor Ozols; 201-938-5394 |
