AMEC Granted "Validated End-User" Status by the United States Department Of Commerce
SHANGHAI, July 23, 2013 /PRNewswire/ -- Advanced Micro-Fabrication Equipment Inc., China (AMEC) today announced that it has been granted Validated End-User (VEU) status by the U.S. Department of Commerce. The VEU program aims to enhance high-technology civilian trade between the U.S. and VEU-eligible businesses in China. It reduces the licensing burden on industry by allowing U.S. exporters to ship designated items to pre-approved entities under a general authorization instead of individual export licenses. The entities now include AMEC.
VEU status is coveted and rare. Fewer than 20 China-based companies are VEU-approved. The qualification process is lengthy and rigorous. Only those that have shown rigid standards of conduct and accountability relevant to the use of the designated products make the cut. Most are large enterprises with extensive teams to implement the necessary internal controls.
The VEU milestone is a significant achievement for AMEC. It's also a business imperative. Critical parts used to build its advanced micro-fabrication equipment are sourced from tier-one U.S. suppliers. Often they're the sole viable and/or highest-quality vendor of such parts. As a VEU-approved company, AMEC can now purchase parts with reduced licensing-related delays, while its U.S. suppliers can expedite sales to a trusted China-based customer.
For AMEC Vice President and General Counsel Matthew P. Ruby, the VEU grant validates the company's ethical standards and the integrity of its team. "Beyond the validation, which we greatly appreciate and are honored to receive, VEU approval will enhance innovation and competition within our industry," he said. "Although we're headquartered in Shanghai, our customers are to be found worldwide. They're accustomed to buying advanced equipment made with highest-quality parts and materials. Today's development removes certain export licensing burdens and helps us deliver the exceptional technology they require by broadening our sourcing options."
About Advanced Micro-Fabrication Equipment Inc. (AMEC)
AMEC is China's leading provider of advanced process technology to global semiconductor manufacturers and others in adjacent energy-related sectors. The company is an entrenched supplier of dielectric and TSV Etch tools, helping tier-one customers build Integrated Circuit (IC) devices at process nodes as low as 22nm. Today, the company has positioned more than 200 Etch stations at leading-edge fabs across Asia. To learn more about AMEC, please visit www.amec-inc.com.
SOURCE Advanced Micro-Fabrication Equipment Corp.