Cabot Microelectronics Corporation, which was incorporated in the state of
Delaware in 1999, is the leading supplier of high-performance polishing slurries
and second largest supplier of polishing pads used in the manufacture of advanced
integrated circuit (IC) devices within the semiconductor industry, in a process
called chemical mechanical planarization (CMP). CMP is a polishing process used
by IC device manufacturers to planarize or flatten many of the multiple layers
of material that are deposited upon silicon wafers in the production of advanced
ICs. Our products play a critical role in the production of advanced semiconductor
devices, helping to enable our customers to produce smaller, faster and more
complex IC devices with fewer defects. Our mission is to create value by delivering
high-performing and innovative solutions that solve our customers challenges.
We currently operate predominantly in one industry segment – the development,
manufacture and sale of CMP consumables products. We develop, produce and sell
CMP slurries for polishing many of the conducting, insulating and isolating
materials used in IC devices, and for polishing the disk substrates and magnetic
heads used in hard disk drives. We also develop, manufacture and sell CMP polishing
pads, which are used in conjunction with slurries in the CMP process. In addition,
we pursue demanding surface modification applications in other industries through
our Engineered Surface Finishes (ESF) business.
IC devices, or "chips", are components in a wide range of electronic
systems for computing, communications, manufacturing and transportation. Consumers
most frequently encounter IC devices in mobile internet devices (MIDs) such
as smart phones and tablets, microprocessors, application processors and memory
chips in their desktop or laptop computers, and in automotive applications,
gaming devices, and digital televisions. The multi-step manufacturing process
for IC devices typically begins with a circular wafer of pure silicon, with
the first manufacturing step referred to as a "wafer start". A large
number of identical IC devices, or dies, are manufactured on each wafer at the
same time. The initial steps in the manufacturing process build transistors
and other electronic components on the silicon wafer. These are isolated from
each other using a layer of insulating material, most often silicon dioxide,
to prevent electrical signals from bridging from one transistor to another.
These components are then wired together using conducting materials such as
aluminum or copper in a particular sequence to produce a functional IC device
with specific characteristics. When the conducting wiring on one layer of the
IC device is completed, another layer of insulating material is added. The process
of alternating insulating and conducting layers is repeated until the desired
wiring within the IC device is achieved. At the end of the process, the wafer
is cut into the individual dies, which are then packaged to form individual
chips.
Demand for CMP consumables products, including slurries and pads, used in the
production of IC devices is primarily based on the number of wafer starts by
semiconductor manufacturers and the type and complexity of the IC devices they
produce. To enhance the performance of IC devices, IC device manufacturers have
progressively increased the number and density of electronic components and
wiring layers in each IC device. This is typically done in conjunction with
shrinking the key dimensions on an IC device from one technology generation,
or "node," to another. As a result, the number of transistors, wires
and the number of discrete wiring layers have increased, increasing the complexity
of the IC device and the related demand for CMP consumables products. As semiconductor
technology has advanced and performance requirements of IC devices have increased,
the percentage of IC devices that utilize CMP in the manufacturing process has
increased steadily over time. We believe that CMP is used in the majority of
all IC devices made today, and we expect that the use of CMP will continue to
increase in the future.
In the CMP polishing process, CMP consumables are used to remove excess material
that is deposited during the IC manufacturing process, and to level and smooth
the surfaces of the layers of IC devices, via a combination of chemical reactions
and mechanical abrasion, leaving minimal residue and defects on the surface,
with only the material necessary for circuit integrity remaining. CMP slurries
are liquid solutions generally composed of high-purity deionized water and a
proprietary mix of chemical additives and engineered abrasives that chemically
and mechanically interact at an atomic level with the surface material on the
wafer. CMP pads are engineered polymeric materials designed to distribute and
transport the slurry to the surface of the wafer and distribute it evenly across
the wafer. Grooves are formed into the surface of the pad to facilitate distribution
of the slurry. The CMP process is performed on a CMP polishing tool. During
the CMP process, the wafer is held on a rotating carrier, which is pressed down
against a CMP pad. The CMP pad is attached to a rotating polishing table that
spins in a circular motion in the opposite direction from the rotating wafer
carrier. A CMP slurry is continuously applied to the polishing pad to facilitate
and enhance the polishing process. Hard disk drive and silicon wafer manufacturers
use similar processes to smooth the surface of substrate disks.
An effective CMP process is achieved through technical optimization of the
CMP consumables in conjunction with an appropriately designed CMP process. Prior
to introducing new or different CMP slurries or pads into its manufacturing
process, an IC device manufacturer generally requires the product to be qualified
in its processes through an extensive series of tests and evaluations. These
qualifications are intended to confirm that the CMP consumable product will
function properly within the customers overall manufacturing process. These
tests and evaluations may require minor changes to the CMP process or the CMP
slurry or pad. While this qualification process varies depending on numerous
factors, it is generally quite costly and may take six months or longer to complete.
IC device manufacturers usually assess the cost, time required and impact on
production when they consider implementing or switching to a new CMP slurry
or pad.
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