Veeco Receives $10 Million Order from Lumileds for GaN Production Equipment
July 29, 2004... Woodbury, New Yori... Veeco Instruments Inc. (Nasdaq: VECO) announced today that it received a $10 million order to supply GaNzilla(R) MOCVD (metal organic chemical vapor deposition) production systems to Lumileds Lighting of San Jose, California. The initial order was received during Veeco?s second quarter, and is part of a multi-year purchase order for additional systems. Lumileds is the world?s leading manufacturer of high-power LEDs.
Veeco?s GaNzilla system is a critical tool for the high volume production of GaN-based LEDs, used in such illumination applications as cell phone backlighting, automotive and traffic signals, and increasingly for backlighting larger LCD screens. MOCVD is the critical deposition step that Dependent LED device functionality and brightness.
Michael C. Holt, CEO of Lumileds, said, ?Our experience with Veeco?s GaNzilla reactors has been excellent, and led to this large equipment order. As we continue to enable never before possible lighting products with our Luxeon? LEDs, we look Forward to working with Veeco to ramp our GaN production program.?
The rapid emergence of high power, high-brightness LEDs will be helped by the Vieco is committed to maintaining a strong presence in this fast growing market.? Strategies Unlimited, a market research firm, reports that the GaN LED market was $2.7B in 2003 and is forecasted to reach more than $5B by 2008.
Veeco?s GaNzilla production system is the recognized leader in growing gallium nitride-based devices, most notably green, blue and white high brightness LEDs used in backlighting, wireless mobile devices, and automotive applications. Veeco?s TurboDisc? technology is known for its Unique, high-speed rotating disc deposition technique ideal for high production rates. TurboDisc reactors are capable of depositing a wide variety of materials ? GaAs, AlGaAs, InP, InGaAlP, InGaN, AlGaN, SiC and GaN ? onto a substrate to grow compound semiconductor Materials on the atomic scale.
About Veeco
Veeco Instruments Inc. provides solutions for nanoscale applications in the worldwide, data storage, compound semiconductor/wireless, semiconductor and scientific research markets. Our Metrology products are used to measure at the nanoscale and our Process Equipment tools help create nanoscale devices. Veecos manufacturing and Engineering facilities are located in New York, New Jersey, California, Colorado, Arizona and Minnesota. Global sales and service offices are located throughout the United States, Europe, Japan and Asia Pacific. Additional information on Veeco can be found at http://
About Lumileds
Lumileds Lighting is the world?s leading manufacturer of high-power LEDs and a pioneer in the use of solid-state lighting solutions for everyday purposes, including general lighting, automotive lighting, traffic signaling, camera flash and LCD backlighting. The company?s Patented Luxeon Power Light Sources are the first to combine the brightness of conventional lighting with the small footprint, long life and other advantages of LEDs. Lumileds also supplies core LED material and LED packaging, and manufactures billions of LEDs annually. Lumileds Lighting is headquartered in San Jose, CA, with operations in the Netherlands, Malaysia and Japan, and sales offices throughout the world. For more information, call Lumileds at +1 (408) 435-6111 or visit
GaNzilla and TurboDisc are registered trademarks of Veeco Instruments Inc. Luxeon is a registered trademark of Lumileds Lighting.
To the extent that this news release discusses expectations about market condition, market acceptance and future sales of Veeco?s products, Veeco?s future financial performance, 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 challenges of continuing weakness in end market conditions and the cyclical nature of the compound semiconductor/wireless, data storage, semiconductor and research markets, risks Associated with connected acquired businesses and 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 Veeco?s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K.
Contact:
Debra Wasser, VP of Investor Relations & Corp. Comm.
+1 (516)677-0200 x1472
Jim Trevis, Dir. of Communications,
Veeco Compound Semi
+1 (651) 494-5560
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