Veeco and CVC announce merger

17 Jun 2002

Veeco Instruments Inc of Plainview, NY, and CVC Inc of Rochester, NY two suppliers of process and metrology equipment for data storage, optical telecommunications and semiconductor applications, will merge.

Under this agreement, CVC's shareholders will receive 0.43 shares of Veeco common stock for each share of CVC common stock. The merger is expected to close in the second quarter of this year and CVC will then become a wholly owned subsidiary of Veeco.

Edward Braun will remain chairman and CEO of Veeco Instruments and Christine Whitman, CVC's chairman, president and CEO, will become president and COO of Veeco and will serve on Veeco's board of directors.

The combined company forecasts revenues of more than USD 400 million in the year 2000.

SH