Advanced Energy to Appoint Lawrence D. Firestone as CFO

Jun 12, 2006, 01:00 ET from Advanced Energy Industries, Inc.

    FORT COLLINS, Colo., June 12 /PRNewswire-FirstCall/ -- Advanced Energy
 Industries, Inc. (Nasdaq:   AEIS) today announced that it will appoint
 Lawrence (Larry) D. Firestone, 48, as its new executive vice president and
 chief financial officer in August 2006 following the completion of his
 employment responsibilities at Applied Films Corporation.
     (Logo: )
     Mr. Firestone was most recently chief financial officer at Applied
 Films Corporation, a $240 million thin film deposition equipment provider
 based in Longmont, Colorado, where for the past seven years he has lead
 several strategic initiatives such as global manufacturing, gross margin
 improvement, acquisition strategy, integration, and public market
     Hans Betz, president and chief executive officer, said, "We are pleased
 to welcome Larry to Advanced Energy. I have known of Larry for some time,
 based on the strong partnership we have with Applied Films as our customer.
 Larry has an extensive finance background, as well as experience in
 managing international manufacturing operations and a focus on business
 model enhancement. He knows the industries in which we compete, and has
 direct experience with the markets that represent new and emerging
 high-growth opportunities, such as solar and organic light emitting diodes
 (OLEDs) for our existing product platforms. In addition, he has strong
 working relationships with the financial community, including many of the
 same research firms and investors who follow Advanced Energy. I am looking
 forward to this valued addition to the Advanced Energy team."
     Prior to joining Applied Films, Mr. Firestone served as vice president
 and chief operating officer of Avalanche Industries, an electronics
 manufacturing services company located in Colorado Springs, Colorado.
 Earlier, he held finance and operations positions at Woolson Spice and
 Coffee Company, TechniStar Corporation and Colorado Manufacturing
 Technology, Inc. in addition to consulting work for several early stage
 technology companies. Mr. Firestone currently serves on the board of
 directors, and is the chairman of the audit committee of Amtech Systems,
 Inc., a publicly held semiconductor equipment company.
     About Advanced Energy(R)
     Advanced Energy(R) develops innovative power and control technologies
 that drive high-growth, plasma thin-film manufacturing processes worldwide,
 including semiconductors, flat panel displays, data storage products, solar
 cells, architectural glass, and other advanced product applications.
     AE(R)'s product portfolio includes precise, flexible power systems;
 reliable gas and liquid flow-management systems; accurate thermal
 instruments; and global support services. Leveraging this focused product
 portfolio and technology leadership, AE creates solutions that maximize
 process impact, improve productivity, and lower cost of ownership for its
 customers, including original equipment manufacturers (OEMs) and end-users
 around the world.
     AE operates in regional centers in North America, Asia, and Europe and
 offers global sales and support through direct offices, representatives,
 and distributors. Founded in 1981, AE is a publicly held company traded on
 Nasdaq National Market under the symbol AEIS. For more information, go to

SOURCE Advanced Energy Industries, Inc.