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|Tsinghua Tongfang Selects Veeco as Primary MOCVD Supplier for New China LED Factory|
PLAINVIEW, N.Y., Aug 30, 2010 (BUSINESS WIRE) --
Veeco Instruments Inc. (Nasdaq: VECO) announced today that Tsinghua Tongfang Company, a Beijing-based, publicly listed division of the Tsinghua Holdings Company Limited, has selected Veeco as its primary supplier of Metal Organic Chemical Vapor Deposition (MOCVD) systems for their new light-emitting diode (LED) factory. Veeco booked the initial systems from a large multi-tool purchase order earlier this month.
Wang Lianghai, Vice President of Tsinghua Tonfang commented, "After thorough evaluation of available MOCVD systems at our Beijing LED R&D site, we selected Veeco as our primary supplier for our new production facility in NanTong which is scheduled to be completed by the end of this year. The TurboDisc(R) K465i MOCVD systems were the clear winner in terms of cost of ownership and productivity. We have an aggressive plan to ramp production of LEDs primarily to address backlighting demand for TVs, and Veeco's technology, tool performance and customer support best matched our needs."
Bill Miller, Ph.D., Executive Vice President, General Manager of Veeco's MOCVD Operations, commented, "Tsinghua Tongfang has put together an exciting new enterprise, moving from the lighting engineering business directly into the manufacture of LEDs. They have solid financial backing and an experienced technology team, and we are pleased to support their production ramp."
About Tsinghua Tongfang
Tsinghua Tongfang Company Limited (SSE: 600100) is part of Tsinghua Holdings Company Limited and is a state-owned enterprise headquartered in Beijing, China. The Company was established in 1997 and listed on the Shanghai Stock Exchange that same year, and is engaged in information technology, energy and environment industries.
Veeco Instruments, Inc. designs, manufactures, markets and services enabling solutions for customers in the HB-LED, solar, data storage, semiconductor, scientific research and industrial markets. We have leading technology positions in our three businesses: LED & Solar Process Equipment, Data Storage Process Equipment, and Metrology Instruments. Veeco's product development, marketing, engineering and manufacturing facilities are located in New York, New Jersey, California, Colorado, Arizona, Massachusetts and Minnesota. Global sales and service offices are located throughout the U.S., Europe, Japan and Asia Pacific. http://www.veeco.com
To the extent that this news release discusses expectations 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 risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2009 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
SOURCE: Veeco Instruments Inc.
Veeco Instruments Inc.