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News in brief: Veeco, Tegal, Kulicke & Soffa

Veeco is suing a rival AFM company for patent infringements, Tegal will stay listed on the Nasdaq SmallCap, and K&S has officially opened its new plant near Shanghai.
Veeco sues AFM company for patent infringement

Veeco Instruments has filed a lawsuit in the United States District Court for the Central District of California against Asylum Research Inc. The lawsuit alleges that the manufacture, use and sale of Asylum s MFP-3D atomic force microscope (AFM) constitute willful infringement of five patents owned by Veeco, as well as other claims. Veeco is suing for unspecified monetary damages and a permanent injunction to stop infringement. Asylum is a privately held company founded by former Veeco employees.

Tegal meets compliance on stock price

Tegal Corporation has announced that it has received notice from Nasdaq that it has regained compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq SmallCap market. The company transferred to the Nasdaq SmallCap after its share price fell below the required minimum for listing on the Nasdaq National Market. Since being notified earlier that the company had until December 1, 2003 to regain compliance, the bid price of Tegal s common stock has closed at $1.00 per share or more for a minimum of 10 consecutive trading days.

"We are pleased that renewed interest by investors in Tegal has resulted in a substantial increase in our average daily trading volume and in our stock price,” said Thomas Mika, Tegal s executive VP and CFO. “With a stronger balance sheet resulting from our recently completed financing and higher stock price we are able to pursue more opportunities for growth and communicate our story to a wider audience of investors."

If the closing bid price of Tegal s common stock is $1.00 per share or more for 30 consecutive trading days, the company may also be eligible to transfer its common stock back to the Nasdaq National Market, provided that it has maintained compliance with the other continued listing requirements on that market.

Kulicke & Soffa opens factory in China

Kulicke & Soffa Industries, has officially opened its new 13,500 square meter (145,000 square foot) facility in the Suzhou-Singapore Industrial Park, near Shanghai. Operating as Kulicke & Soffa Suzhou Limited, the facility will produce a variety of bonding tools, dicing blades and test interconnect products. Over 50% of K&S’ total capillary production will be manufactured at this facility.

Manufacturing operations within K&S Suzhou Limited began in December, 2002 and initial shipments have been accepted by several customers and production shipments have now started. As the Company’s first China-based manufacturing operation in Souzhou, K&S Suzhou Limited enables K&S to better serve its customers, while participating in the tremendous growth that is happening in China.

K&S plans to eventually expand its sales, market, service and application capability in China to support products shipped into the country. Rather than provide support from remote locations, K&S personnel will be located in key areas to quickly and efficiently service its customers in China.

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