China Integrated Circuit Industry Investment Fund Co. Ltd., Advanced Micro-Fabrication Equipment Inc. (AMEC), And Suzhou Juyuan Dongfang Investment Fund (Limited Partnership) Invest in Piotech
SHANGHAI and SHENYANG, China, Nov. 30, 2015 /PRNewswire/ -- China Integrated Circuit Industry Investment Fund Co. Ltd., together with Advanced Micro-Fabrication Equipment Inc. (AMEC) and Suzhou Juyuan Dongfang Investment Fund (Limited Partnership) (Suzhou Juyuan), today announced that they have collectively invested 270 million RMB (US$42 million) in Piotech Co. Limited (Piotech). Headquartered in Shenyang, China, Piotech makes Chemical Vapor Deposition (CVD) equipment used to manufacture nano-scale semiconductors. The combined investment gives the new investors a majority ownership stake in Piotech.
Piotech was established in 2010 by a group of returning international technology veterans, along with the Chinese Academy of Sciences. The company innovates advanced CVD equipment to help global semiconductor manufacturers build integrated circuit devices powering today's consumer electronics and industrial products. Piotech's PECVD product has been qualified for production by two China-based foundries.
The move aims to put Piotech on a fast track to become a tier-one supplier of CVD equipment and expertise to semiconductor manufacturers worldwide. With access to AMEC's global sales and service infrastructure, international supply chain, and state-of-the-art manufacturing protocols, Piotech can develop and commercialize advanced CVD systems more efficiently and cost-effectively. For AMEC, the deal means it may add enabling CVD technologies to the Etch products it offers to global customers. For both companies, it promises new market opportunities and broader applications reach.
AMEC's Chief Operating Officer, Dr. Zhiyou Du, called the investment an important part of AMEC's growth strategy, adding that Piotech has all the right ingredients for a productive collaboration. "Our greater intention, though, is to provide value to global semiconductor manufacturers by expanding their CVD vendor options," said Du. "This is especially critical today, as relentless consolidation continues to limit their choices. With our collective investment, Piotech can advance their leadership in CVD technology, and provide formidable competition to international CVD players. We're pleased to be part of the syndicate."
Dr. Chien Chiang, Chairman and Founder of Piotech said, "We are honored to receive such great support from these key entities. Their combined investment will help us develop our next-generation products and business strategy. More importantly, the investment validates Piotech as an essential contributor to the advancement of China's semiconductor industry. We'll use the funds to develop products for current and future markets. The new products will exploit our CVD technology expertise and provide value to customers by enabling their new processes and products, and reducing their overall costs."
Dr. Chiang added that Piotech has previously collaborated with AMEC, noting, "Our CVD equipment complements AMEC's Etch tools in terms of product, technology and markets. Their investment will strengthen our relationship and help us provide an even higher level of service and value to our customers."
For information on AMEC, please visit www.amec-inc.com.
For information on Piotech, please visit www.sypiotech.cn.
SOURCE Advanced Micro-Fabrication Equipment Corp.
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