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IPG Photonics Expands Laser Production with Purchase of Veeco GEN2000 MBE System

PLAINVIEW, N.Y.--(BUSINESS WIRE)--Mar. 10, 2014-- Veeco Instruments Inc. (Nasdaq:VECO) announced today that IPG Photonics Corporation (IPG), purchased an additional GEN2000® Production Molecular Beam Epitaxy (MBE) System to add to their fleet of Veeco MBE systems.

Located in Oxford, Massachusetts, IPG will use the GEN2000 for high-volume manufacturing of laser diodes for fiber lasers. IPG Photonics Corporation is the world leader in high-power fiber lasers and amplifiers and now utilizes multiple Veeco MBE systems in its laser production operations. Veeco is the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies.

“Veeco’s GEN2000 is the perfect complement to our existing set of Veeco MBE systems because of its superior throughput and low production costs,” said Dr. Alex Ovtchinnikov, Senior Vice President, Components at IPG Photonics. “Having the ability to transfer production methods from our other Veeco MBE systems means we can ramp laser diode production quickly and reliably to meet increasing demand for our fiber lasers.”

With their excellent performance, low power consumption and favorable ownership costs, fiber lasers are becoming the cutting and welding method of choice for materials processing applications, particularly in the automotive industry, according to a report on the laser cutting market from Markets and Markets. As the technology continues to advance, fiber lasers are gaining adoption in other industries including semiconductor processing, 3-D printing and smartphone manufacturing.

“IPG is the clear leader in fiber laser production and has been utilizing our production MBE systems for years,” said Jim Northup, Vice President, General Manager for Veeco’s MBE Operations. “The GEN2000 delivers the highest throughput and lowest cost of ownership MBE technology in the industry, making it the ideal system to manufacture IPG’s high performance laser diodes.”

About GEN2000 Production MBE System

The GEN2000 MBE System delivers exceptional throughput and cost of ownership for high-capacity production applications. Its cluster tool design provides the industry’s most cost effective 7x6” epiwafer growth of devices such as lasers, multi-junction solar cells, and pseudomorphic high-electron-mobility transistors (pHEMTs). Its cluster tool architecture minimizes clean-room space and downtime attributed to maintenance and allows for growth of different materials in connected modules.

About IPG Photonics Corporation

IPG Photonics Corporation is the world leader in high-power fiber lasers and amplifiers. Founded in 1990, IPG pioneered the development and commercialization of optical fiber-based lasers for use in diverse applications, primarily materials processing. Fiber lasers have revolutionized the industry by delivering superior performance, reliability and usability at a lower total cost of ownership compared with conventional lasers, allowing end users to increase productivity and decrease operating costs. IPG has its headquarters in Oxford, Massachusetts, and has additional plants and offices throughout the world. For more information, please visit www.ipgphotonics.com.

About Veeco

Veeco’s process equipment solutions enable the manufacture of LEDs, flexible OLEDs, power electronics, hard drives, MEMS and wireless chips. We are the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies. Our high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow its customers to maximize productivity and achieve lower cost of ownership. For information on our company, products and worldwide service and support, please visit 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, 2013 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
Investors:
Debra Wasser, 516-677-0200 x1473
dwasser@veeco.com
or
Media:
Jeffrey Pina, 516-677-0200 x1222
jpina@veeco.com

Symbol
VECO (Common Stock)
Price
$34.72
Change
 Stock is Down 0.07
07/25/14 Data as of 4:00 p.m. ET
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