We are a leading, global manufacturer of capital equipment, including thermal
processing, silicon wafer handling automation, and related consumables used
in fabricating solar cells, LED and semiconductor devices. Semiconductors, or
semiconductor chips, are fabricated on silicon wafer substrates, sliced from
ingots, and are part of the circuitry, or electronic components, of many products
including solar cells, computers, telecommunications devices, automotive products,
consumer goods, and industrial automation and control systems. The Companys
wafer handling, thermal processing and consumable products currently address
the diffusion, oxidation, and deposition steps used in the fabrication of solar
cells, LEDs, semiconductors, microelectromechanical systems "(MEMS)"
and the polishing of newly sliced silicon wafers.
Our major emphasis in the solar industry is the development of thermal processes,
and deposition for solar cell manufacturing, which we believe, collectively,
are key to driving higher cell efficiencies. The markets we serve are experiencing
rapid technological advances and are, historically, cyclical. Therefore, future
profitability and growth depend on our ability to develop or acquire and market
profitable new technology products, and on our ability to adapt to cyclical
trends.
We believe our product portfolio, developed through a track record of technological
innovation as well as the successful integration of key acquisitions, reduces
the cost of solar cell manufacturing by increasing solar cell efficiency, increasing
throughput and increasing yields. We have been providing manufacturing solutions
to the semiconductor industry for over 30 years and have leveraged our semiconductor
technology and industry presence to capitalize on growth opportunities in the
solar industry. Our customers use our equipment to manufacture solar cells,
semiconductors, silicon wafers and MEMS, which are used in end markets such
as solar power, telecommunications, consumer electronics, computers, automotive
and mobile hand-held devices. Through the acquisition of BTU International,
Inc. ("BTU") this past fiscal year, we expanded our thermal processing
capability with the supply of solder reflow systems used for surface mount applications
in the electronics assembly market, and custom equipment for multiple industrial
markets. In addition, this past fiscal year we expanded our participation in
the solar market through the acquisition of a controlling interest in SoLayTec
B.V. ("SoLayTec"), which provides Atomic Layer Deposition ("ALD")
systems used in high efficiency solar cells. To complement our research and
development efforts, we also sell our equipment to, and coordinate certain development
efforts with, research institutes, universities and customers.
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