Newport Corporation Enters Into Agreement For $14 Million Collaborative Development Program

Date Announced: 04 Nov 2013

OEM partnership relates to semiconductor equipment.

IRVINE, Calif., Nov. 4, 2013 /PRNewswire/ -- Newport Corporation (NASDAQ: NEWP) today announced that it has signed a $14 million agreement with an OEM customer for the collaborative development of opto-mechanical subsystems for a next-generation semiconductor equipment application.

Under the agreement, Newport will design the subsystems in collaboration with the customer and will manufacture prototypes and related equipment. The development program has already commenced and the company expects to deliver the first prototype units in mid-2014.

Commenting on the agreement, Robert J. Phillippy, Newport's President and Chief Executive Officer, stated, "We are very excited about this new program, which illustrates the unique value proposition Newport provides by leveraging our expertise and breadth of technology in optics, photonics and lasers to develop and manufacture highly engineered solutions for our customers' most demanding applications."

Source: Newport

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