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Date Announced: 06 Dec 2010
Company Celebrates Grand Opening of New Singapore International Operations.
SAN JOSE, Calif., Dec. 6, 2010 /PRNewswire/ -- Ultratech, Inc. (Nasdaq: UTEK), a leading supplier of lithography and laser-processing systems used to manufacture semiconductor devices and high-brightness LEDs (HB-LEDs), today officially opened an advanced manufacturing facility in Singapore. Ultratech plans to spend more than $125 million dollars over the next several years in support of its Singapore International Operations. Leo Yip, Chairman of the Singapore Economic Development Board and some 200 guests attended today's grand opening event which was followed by a plant tour.
Ultratech Chairman and CEO Arthur W. Zafiropoulo said, "After an extensive study in the Asia Pacific region, we selected Singapore for several business reasons including being conveniently located to Ultratech's served markets. We expect 75 percent of our business to be located in the Pacific region, and with this new facility in Singapore Ultratech can better serve customers from Thailand to Taiwan. We are continuously looking for ways to provide our customers with even better service and more cost-effective solutions. The new Singapore facility will enable Ultratech to achieve our commitment to meet our global customers' needs with advanced technology and state-of-the-art manufacturing solutions."
The advanced manufacturing facility will be capable of producing over 100 lithography steppers annually for the advanced packaging and the HB-LED markets. Along with providing engineering support in Singapore, the new facility will also serve as headquarters for Ultratech's global service operations and Asia Pacific sales organization. Ultratech plans to start manufacturing lithography systems at its Singapore facility beginning in late 2010 with the first tool shipments to customers scheduled for the first quarter of 2011.
Source: Ultratech
E-mail: lrebouche@ultratech.com
Web Site: www.ultratech.com
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