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VG Semicon Announces Orders for Two MBE Systems and Record MBE Orders Year-to-Date

Waltham, MA. Thermo Electron Corporation (NYSE: TMO) announced that its Thermo VG Semicon business has received orders for two V150 production Molecular Beam Epitaxy (MBE) systems from leading epiwafer supplier Picogiga, for delivery in 2001. In addition, the company announced that orders of its MBE systems for the first nine months of 2000 are a record $42.9 million, compared with orders of $19.4 million for the same period of 1999 and $38.3 million for all of 1999.

"This increase in orders - more than double that of the nine-month period in 1999 - demonstrates that customers who demand excellent quality and who require production capacity of gallium arsenide semiconductor materials recognize the significant value of our MBE systems," said Barry S. Howe, president of Thermo Electron s Optical Technologies sector. "In fact, we are clearly the industry leader in this rapidly growing market, with more than 60 systems installed worldwide."

Picogiga will use Thermo VG Semicon s MBE technology to produce Heterojunction Bipolar Transistors (HBT), which are an alternative to High Electron Mobility Transistors used by the cellular telephone industry, and are also used in fiber-optic telecommunications that use ultrahigh-speed integrated circuits for high-data-rate multiplexing and demultiplexing.

Thermo Electron Corporation is a global leader in providing technology- based instruments, components, and systems that offer total solutions for markets ranging from life sciences to telecommunications to food and beverage production. For example, the company s powerful technologies help researchers sift through data to make discoveries that will fight disease or prolong life. They allow manufacturers to fabricate ever-smaller components required to increase the speed and quality of communications. And they automatically monitor and control online production to ensure that critical quality standards are met safely and efficiently. In 1999, Thermo Electron s instrument businesses, based in Waltham, Massachusetts, reported $2.2 billion in revenues and employed approximately 14,000 people worldwide. For more information on Thermo Electron, visit http://www.thermo.com on the Internet.

The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward- looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth under the heading "Risk Factors" in the company s Amendment No. 2 to Registration Statement on Form S-4 [Reg. No. 333-35478] filed with the Securities and Exchange Commission on June 27, 2000. These include risks and uncertainties relating to: the company s ability to complete its corporate reorganization, the need for a favorable Internal Revenue Service ruling regarding planned spin-offs of certain subsidiaries, divestitures planned as part of the reorganization, integration of the instrument businesses, issuance of significant amounts of additional shares as part of the reorganization, liquidity and prospective performance of the subsidiaries to be spun off, guarantees of obligations of the subsidiaries to be spun off, stock price volatility, goodwill acquired by the company, internal growth, the effect of exchange rate fluctuations on the company s significant international operations, the need to develop new products and adapt to significant technological change, changes in governmental regulations, and dependence of demand on capital spending and government funding policies.

Contact: Thermo Electron Tel: 781-622-1111 (Investor) Tel: 781-622-1252 (Media)

 

Thermo Electron
Tel: 781-622-1111 (Investor)
Tel: 781-622-1252 (Media)
 
Web site: http://www.thermo.com
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