Ultra Clean Technology Announces Twentieth Anniversary Celebration
HAYWARD, Calif., July 12, 2011 /PRNewswire/ -- Ultra Clean Technology (NASDAQ: UCTT) announced today that the company would mark their twentieth year in business. The event will be celebrated by guests and executive management and will be held in the fall at the company's Global Headquarters in Hayward, California.
Ultra Clean Technology was founded in 1991 by Mitsubishi Corporation and initially led by Dr. Hisayashi Kobayashi. Mitsubishi's objective was to bring leading edge technology in gas delivery system manufacturing from Japan to the U.S. Initial production of gas delivery systems at Ultra Clean began in 1992. From 1992 to 2004 the company exclusively manufactured gas and chemical delivery systems primarily for the semiconductor capital equipment industry. Beginning in 2004 the company began to expand into outsourced process modules and other complete turn-key systems. Today, roughly 50% of UCT's production is in gas and chemical delivery systems and the balance in other modules and systems.
In 2002, The UCT management team, led by UCT's Chairman and CEO, Clarence Granger, along with a private equity firm, Francisco Partners, acquired Ultra Clean from Mitsubishi. On March 24, 2004 Ultra Clean completed its initial public offering. The stock trades on NASDAQ under the symbol UCTT.
In 2005, the company opened its first manufacturing facility off-shore, in Shanghai, China and opened a second facility in Shanghai in 2007. In 2010, the company opened up a manufacturing facility in Singapore. Today, approximately 30% of UCT's production comes from its three manufacturing facilities in Asia.
On June 29, 2006 UCT acquired Sieger Engineering, Inc. Sieger was also a supplier of critical subsystems to the semiconductor and flat panel industry, as well as the medical industry. Like Ultra Clean Technology, Sieger experienced growth at a faster pace than the overall industry.
Two decades of growth
UCT has a long history of outgrowing its served markets and benefiting from the general outsourcing trend. Today, UCT is a global leader in the manufacture of low volume, highly complex, configurable, outsourced assemblies. In addition to the semiconductor capital equipment market, UCT now supports the flat panel, medical, research, solar, and LED equipment markets. In 2010 UCT had record revenue and profits of $443 million and $.87 respectively.
Clarence Granger, Chairman and Chief Executive Officer, noted: "UCT has focused on serving the changing needs of our customers and our efforts have been realized through the long term commitment of our dedicated employees. Without this highly skilled, deeply committed workforce we would not have grown from our modest beginnings twenty years ago to our current capability with over 1200 employees in seven manufacturing facilities worldwide. As we move forward into our third decade I am very proud of our past performance and confident in our long-term future."
Safe Harbor Statement
The foregoing information contains, or may be deemed to contain, "forward- looking statements" (as defined in the US Private Securities Litigation Reform Act of 1995) which reflect our current views with respect to future events and financial performance. We use words such as "anticipates," "believes," "plan," "expect," "future,"' "intends," "may," "will," "should," "estimates," "predicts," "potential," "continue" and similar expressions to identify these forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, our actual results may differ materially from the results predicted or implied by these forward- looking statements. These risks, uncertainties and other factors include, among others, those identified in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations'' and elsewhere in our annual report on Form 10-K for the year ended January 1, 2010 and quarterly report on Form 10-Q for the quarter ended October 1, 2010, filed with the Securities and Exchange Commission. Ultra Clean Holdings, Inc. undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information future developments or otherwise.
SOURCE Ultra Clean Technology