TEMPE, Ariz., July 17, 2019 /PRNewswire/ -- Amtech Systems, Inc. (NASDAQ: ASYS), a manufacturer of capital equipment, including thermal processing and wafer handling automation, and related consumables used in fabricating semiconductor devices, light-emitting diodes (LEDs), silicon carbide (SiC) and silicon power chips and solar cells, announced today that its subsidiary, PR Hoffman, will be moving to a larger manufacturing facility and has hired a business development manager to meet the anticipated growing demand for its SiC, Optics, and Silicon solutions. The Company expects to be operating in the larger facility by January 2020.
Michael Whang, Chief Operating Officer of Amtech commented, "Our current manufacturing operations are at capacity. With this move, we are near doubling our manufacturing footprint and positioning our business to meet the expected longer-term increase in demand for our distinctive SiC, optics, and silicon substrate solutions. The larger floor space plus the planned additional manufacturing equipment will improve manufacturing flow, add greater efficiencies, and importantly, reduce lead times to ensure we always provide the best service possible to our customers. With the addition of our business development manager, who is an industry veteran, we are positioning PR Hoffman to maximize growth opportunities, while maintaining their outstanding customer service."
J.S. Whang, Executive Chairman and Chief Executive Officer of Amtech, added, "We are very excited about the expanding market for SiC, optics, and silicon that is supported by the continuously growing demand for power devices used in electric vehicles, automotive sensors, consumer and industrial IoT, 5G mobility, artificial intelligence, and big data. As this market grows, our strategy is to ensure the highest level of responsiveness to increasing demand from current and future customers, to bring timely product innovations to the marketplace, and capitalize on select external opportunities to further enhance our growth. Our move to this larger facility is an important step in our overall plan to capitalize on the attractive opportunities in the semiconductor marketplace, profitably grow our business, and enhance the value of our company for all stakeholders."
About Amtech Systems, Inc.
Amtech Systems, Inc. is a global supplier of advanced thermal processing and polishing equipment and related consumables to the semiconductor / electronics, power IC businesses, and advanced lighting manufacturing markets. Amtech's equipment includes diffusion, solder reflow systems, wafer handling automation, and polishing equipment and related consumables for surface preparation of various materials, including silicon carbide ("SiC"), sapphire and silicon. The Company's wafer handling, thermal processing, polishing and consumable products currently address the diffusion, oxidation, and deposition steps used in the fabrication of semiconductors, printed circuit boards, semiconductor packaging, MEMS, and advanced lighting, including the polishing of newly sliced sapphire and silicon wafers. Amtech's products are recognized under the leading brand names BTU International, Bruce TechnologiesTM, PR HoffmanTM, and R2D AutomationTM.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release is forward-looking in nature. All statements in this press release, or made by management of Amtech Systems, Inc. and its subsidiaries ("Amtech"), other than statements of historical fact, are hereby identified as "forward-looking statements" (as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). The forward-looking statements in this press release relate only to events or information as of the date on which the statements are made in this press release. Examples of forward-looking statements include statements regarding Amtech's future financial results, operating results, business strategies, projected costs, products under development, competitive positions, plans and objectives of Amtech and its management for future operations, efforts to improve operational efficiencies and effectiveness and greater China sourcing. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "would," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology used in this press release or by our management, which are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. The Form 10-K that Amtech filed with the Securities and Exchange Commission (the "SEC") for the year-ended September 30, 2018, listed various important factors that could affect the company's future operating results and financial condition and could cause actual results to differ materially from historical results and expectations based on forward-looking statements made in this document or elsewhere by Amtech or on its behalf. These factors can be found under the heading "Risk Factors" in the Form 10-K and investors should refer to them. Because it is not possible to predict or identify all such factors, any such list cannot be considered a complete set of all potential risks or uncertainties. Except as required by law, we undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events, or otherwise.
Amtech Systems, Inc.
Lisa D. Gibbs
Chief Financial Officer
SOURCE Amtech Systems, Inc.
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