EMCORE ANNOUNCES PLANS TO EXPAND NEW MEXICO FACILITY
Addition Will Triple Cleanroom Manufacturing Capacity for Data and Satellite Communications Products
Somerset, NJ, USA. EMCORE Corporation (NASDAQ: EMKR) has announced plans to significantly expand its Sandia Technology Park site, located in Albuquerque, New Mexico, into a campus environment that will house the Company s solar cell, optical components and networking products. Scheduled for completion by December 2000, the expanded facility will triple the cleanroom manufacturing capacity of the plant to meet increased product demand, expanding customer base and new product lines.
The expansion will add an additional 36,000 square feet to the existing 50,000-square-foot facility. Plans include the purchase of an additional 2 acres west of the site, completion of the remaining unoccupied portion of the existing EMCORE facility, and construction of a new 36,000-square-foot, 2-story building. This will allow for one integrated manufacturing site for EMCORE s component module and photovoltaic operations.
The existing 50,000-square-foot facility was completed in October 1998, where 50% of the plant is occupied by EMCORE s PhotoVoltaic division for the manufacture of advanced dual and triple junction solar cells for satellite applications. EMCORE s MicroOptical Device (MODE) division provides the building blocks for high speed telecom and data communications, including the Internet infrastructure, by designing and manufacturing reliable and efficient high-speed laser components, subassemblies, and modules. The expansion of these operations at a newly constructed, state of the art facility will be paramount to the future development of industry leading technologies for the communications industry.
According to President and CEO Reuben Richards, "This significant expansion of our optical components and solar cell business units reinforces our position as a competitive, world-class supplier of compound semiconductor solutions, by allowing for more efficient and cost-effective manufacturing operations." "We re gearing up to accommodate the accelerated growth in global communications, and by expanding our resources in one centralized facility, we will have the increased manufacturing capacity to meet growing customer demands for all product lines," Mr. Richards said.
All EMCORE product lines have experienced significant growth in the workforce over the past year. EMCORE employs approximately 220 people at its Albuquerque, New Mexico sites, an increase of 40% from the previous year. EMCORE anticipates its employee base in New Mexico to increase dramatically once the new facility is completed.
EMCORE Corporation is the leading vertically integrated materials science company in the field of compound semiconductors. EMCORE offers comprehensive solutions for the compound semiconductor industry and its customers by providing the following products: optical components for telecom and datacom applications; solar cells for satellite communications; electronic devices for position and motion sensing for transportation and consumer electronics applications; electronic materials for wireless communications; and metallorganic chemical vapor deposition (MOCVD) capital equipment for the growth of epitaxial materials. For further information about EMCORE, visit http://www.emcore.com.
The information provided herein may include forward-looking statements relating to future events, such as the development of processes, the commencement of production, or the future financial performance of the Company. Actual operating results may differ from such projections, and are subject to certain risks including, without limitation, risks arising from: changes in semiconductor industry growth, increased competition, delays in developing and commercializing new products, and other factors described in the Company s filings with the Securities and Exchange Commission.
For more information:
Corporate Contact:
Tom Miehe, Emcore
Tel: +1 732-271-9090
Fax: +1 732-271-9686
Email: info@emcore.com
Press Contact:
Debra Norman, Richartz Fliss Clark & Pope
Tel: +1 973-627-8180
Fax: +1 973-627-8410
Email: norman@rfcp.com
Debra Norman, Richartz Fliss Clark & Pope
Tel: +1 973-627-8180
Fax: +1 973-627-8410
Email: norman@rfcp.com
E-mail: norman@rfcp.com
Web site: http://www.emcore.com
