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: http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO )
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.