Instruments Inc. (Nasdaq: VECO) announced today that it has completed a
transaction to purchase certain assets of DayStar Technologies, Inc. (Nasdaq:
DSTI), in order to accelerate its penetration of the rapidly growing copper,
indium, gallium, selenium (CIGS) solar market. Veeco has purchased selected
equipment, taken over leased facilities and hired DayStar's R+D group
in Clifton Park, New York.
David Bruns, Senior Vice President, General Manager, Veeco Solar Equipment
commented, "The creation of a "Solar Process Development Center"
will accelerate Veeco's position as a leading integrated equipment provider
to the rapidly growing CIGS solar market. We have brought on board a team of
highly qualified CIGS technology specialists who bring to Veeco years of CIGS
process know-how on a range of glass and flexible substrates. These CIGS process
development specialists will now work in tandem with our design team to help
our customers achieve the lowest cost of ownership through process and hardware
optimization on Veeco's suite of equipment."
John Peeler, Veeco's Chief Executive Officer, added, "This transaction
is another example of Veeco's commitment to the fast-growing CIGS thin
film marketplace. In the past year we have rapidly expanded our CIGS product
line to include integrated thermal deposition sources, our FastFlex™ platform
for flexible CIGS solar cells and our FastLine™ platform for CIGS on glass.
Based upon the broad end market applications for CIGS in solar farms, building
integrated and portable devices, combined with CIGS' forecasted competitiveness
on a cost/watt basis, we see a $750M equipment market opportunity for CIGS by
Veeco Instruments Inc. manufactures enabling solutions for customers in the
HB-LED, solar, data storage, semiconductor, scientific research and industrial
markets. We have leading technology positions in our three businesses: LED &
Solar Process Equipment, Data Storage Process Equipment, and Metrology Instruments.
Veeco's manufacturing and engineering facilities are located in New York,
New Jersey, California, Colorado, Arizona, Massachusetts and Minnesota. Global
sales and service offices are located throughout the U.S., Europe, Japan and