Veeco$9M in Japanese Orders After Close
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Dec. 9, 1998--
Data Storage Manufacturers Buy Process Equipment Tools for
Advanced MR/GMR Applications
Veeco Instruments Inc. (NASDAQ:VECO) today reported receipt of orders exceeding $9 million for etch and deposition equipment from three leading Japanese data storage companies. The orders are primarily for cluster tool combinations of Veeco ion beam deposition (IBD), ion beam etching (IBE) and physical vapor deposition (PVD) products for advanced high density magnetoresistive (MR) and giant magnetoresistive (GMR) thin film magnetic head (TFMH) applications. Shipments are scheduled for the first half of 1999.
These equipment orders come a year after Veeco opened a direct sales and service center in Japan. "This significant improvement in bookings from Japan is a result of our now being able to offer customers local applications and service support," stated Emmanuel Lakios, President of Veeco's Process Equipment Group. "It is also evidence of the continuing acceptance of ion beam deposition for MR and GMR thin film head manufacturing."
Veeco Instruments Inc., headquartered in Plainview, New York, is a worldwide leader in Metrology tools for the data storage and semiconductor industries, and Process Equipment etch and deposition tools for the data storage industry. Manufacturing and engineering facilities are located in New York, California and Arizona. Global sales and service offices are located throughout the United States, Europe, Japan and Asia Pacific.
To the extent that this news release discusses expectations about market conditions or about market acceptance and future sales of the Company's products, or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the cyclical nature of the data storage and semiconductor industry, risks associated with the acceptance of new products by individual customers and by the marketplace, and other factors discussed in the Business Description and Management's Discussion and Analysis sections of the Company's Report on Form 10-K and Annual Report to Shareholders.
CONTACT:
Investor and Financial Media:
Debra Wasser, 516/349-8300, ext. 1472
Trade Media:
Fran Brennen, 516/349-8300, ext. 1222
KEYWORD: NEW YORK
BW1481 DEC 09,1998
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