Uniroyal Technology Corporation Announces Contract Award for Development Of 4-Inch Silicon Carbide Substrates
Sarasota, FL. Uniroyal Technology Corporation (Nasdaq: UTCI) today announced that its subsidiary, Sterling Semiconductor, Inc. (Sterling), has been awarded a $987,000 contract by the U.S. Department of Defense to develop 4-inch silicon carbide (SiC) wafers. The 15-month contract is funded by the Ballistic Missile Defense Organization (BMDO) and will be monitored by the Army Research Laboratory in Adelphi, Maryland.
Uniroyal Technology recently acquired Sterling Semiconductor, a producer of silicon carbide substrates, epitaxy and devices for advanced electronics applications. Since 1997, Sterling has increased its wafer size from less than 1/2 inch to 2 inches on a commercial basis. In addition, Sterling began producing 3-inch wafers on an R & D basis this year.
"A transition from the current industry standard 2-inch SiC substrate to a 4-inch substrate is particularly important for making cost-competitive semiconductor devices," said Robert L. Soran, President and Chief Operating Officer of Uniroyal Technology Corporation. "The award of this contract is a validation of Sterling s proprietary SiC substrate expansion technology. While we do not underestimate the technical challenges associated with creating larger SiC wafers, we are encouraged that Sterling s rate of progress exceeds others in the industry," Mr. Soran noted. A 4-inch silicon carbide wafer provides approximately four times the usable area for making semiconductor devices than that of 2-inch wafers. Sterling will make 4-inch wafers for research purposes through 2001 with commercial production anticipated in 2003.
Uniroyal Technology s Compound Semiconductors & Optoelectronics business segment includes Uniroyal Optoelectronics and Sterling Semiconductor, Inc. Uniroyal Optoelectronics manufactures high-brightness light emitting diodes (HB-LEDs), a rapidly growing market with applications such as traffic signals, indoor/outdoor signage and automotive applications. Sterling Semiconductor is a leading producer of silicon carbide (SiC) substrates, epitaxial thin films on SiC substrates and is developing SiC devices for wireless communications, industrial process control, and power amplification. Well-known brand names in Uniroyal s Coated Fabrics and Specialty Adhesives segments include NAUGAHYDE(R) and NAUGASOFT(TM) in coated fabrics and, SILAPRENE(R), HYDRA FAST-EN(R) and GUNTHER ULTRA/BOND(R) in adhesives. The Company s common stock and warrants trade on the Nasdaq/NMS under the symbols UTCI and UTCIW, respectively.
Statements made herein that are forward-looking in nature within the meaning of the Private Securities Litigation Reform Act of 1995 are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to, those related to business conditions and the financial strength of the various markets served by the Company, the level of spending for such products and the ability of the Company to successfully manufacture and market its products.
Contact: George J. Zulanas Jr., CFO of Uniroyal Tel: 941-361-2220 or Mark N. Tyler of TT Communications Tel: 212-962-3690 for Uniroyal Technology
George J. Zulanas Jr., CFO of Uniroyal
Tel: 941-361-2220
or Mark N. Tyler of TT Communications
Tel: 212-962-3690 for Uniroyal Technology
