PLAINVIEW, N.Y., Feb 08, 2011 (BUSINESS WIRE) --
Veeco Instruments Inc. (Nasdaq: VECO) announced today that it has been selected as the primary supplier of Metal Organic Chemical Vapor Deposition (MOCVD) systems by Enraytek Optoelectronics Co., Ltd. (EnRayTek), a new company established to make LEDs for backlighting LED-TVs. During the fourth quarter of 2010, EnRayTek placed initial orders for Veeco TurboDisc(R) K465i(TM) MOCVD systems to be installed at its new LED factory in Shanghai, China.
Dr. George Cherng, Chief Operating Officer of EnRayTek, commented, "We selected Veeco because of their excellent tool performance, MOCVD technology leadership, strong customer support, and commitment to the China marketplace. Our facility is expected to be ready to begin to receive MOCVD tools in Q2, and we believe Veeco will be the best partner to help get us up and running and making high-quality LEDs fast."
William J. Miller, Ph.D., Executive Vice President, Veeco's Compound Semiconductor Business, commented, "We are excited to win the EnRayTek business as we believe they have an excellent business plan, good financial backing and solid LED technology and personnel to meet their goal of becoming a major provider of LEDs for TV backlighting. It is our goal to help EnRayTek to ramp to production capacity quickly."
According to Jim Jenson, Vice President of Marketing for Veeco MOCVD, "Recent industry articles have forecasted that revenues from LED-backlit LCD-TVs are expected to exceed those of CCFL-backlit models for the first time in China during 2011. EnRayTek is focused on capitalizing on this trend."
About EnRayTek
Enraytek Optoelectronics Co., Ltd. (EnRayTek) is a high-tech enterprise, founded by Dr. Richard R. Chang. The Company is located in mainland China and is focused on the design, development and manufacture of LEDs and the related value chain. The scope of the business includes sapphire substrate materials and patterned sapphire substrates, gallium nitride epitaxy on wafers, LED chip processing, and assembly and testing. For more information on the Company, please visit:
http://www.hiraygroup.com/
About Veeco
Veeco makes equipment to develop and manufacture LEDs, solar panels, hard disk drives and other devices. We support our customers through product development, manufacturing, sales and service sites in the U.S., Korea, Taiwan, China, Singapore, Japan, Europe and other locations. Please visit us at
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.
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Debra Wasser, 516-677-0200 x1472
SVP Investor Relations & Corporate Communications
or
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Fran Brennen, 516-677-0200 x1222
Senior Director Marcom