SAN JOSE, Calif., April 24, 2014 /PRNewswire/ -- Ultratech, Inc. (Nasdaq: UTEK), a leading supplier of lithography, laser-processing and inspection systems used to manufacture semiconductor devices and high-brightness LEDs (HB-LEDs), recently received its 14th safety recognition award from its workers' compensation carrier for its exemplary health and safety record. The award, presented jointly by Ultratech's broker Wells Fargo Insurance Services USA, Inc., and Berkley Technology Underwriters, a Berkley Company, acknowledges Ultratech's efforts to incorporate safety as part of the company's corporate culture. This recognition confirms the successful extension of Ultratech's ongoing, company-wide commitment to its employees' welfare to its new facilities in Waltham, Mass. and Singapore. Marking its 14th health and safety award, Ultratech has maintained its excellent safety record.
Matthew Mueller, President, Berkley Technology Underwriters, a Berkley Company, stated, "The company was founded in 1967 and is one of the nation's premier commercial lines property casualty insurance providers. Like Ultratech, it is our long-time industry experience and specialized knowledge that differentiates us from other companies. We are proud to be Ultratech's partner and are committed to supporting all of its global employees in maintaining a safe and thriving work environment."
"In all areas of its organization, Ultratech's commitment to safety and overall employee well-being is part of its value-driven culture," stated Sam Elliot, regional managing director for Wells Fargo Insurance Services USA, Inc.'s West region.
"Starting with our San Jose headquarters and including our manufacturing facility in Singapore and Cambridge Nanotech business in Waltham, Mass., Ultratech has successfully extended its culture of safety to all of its locations. Safety is built into everything that we do and we strive to make continuous improvements to an already enviable record," noted Arthur W. Zafiropoulo, Ultratech's Chairman and CEO. "I am proud to receive this award and direct the accolades to our employees who work conscientiously to make safety and quality synonymous with Ultratech."
"Our success is due both to the leadership of our managers and a workforce that focuses on making safety at Ultratech a top priority throughout our worldwide operations," explained Bruce Wright, Ultratech's Senior Vice President and CFO. "Not only are we rewarded with a safe and productive working environment, but Ultratech also realizes important savings in the cost of doing business, as well as excellent insurance rates."
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as "anticipates," "expects," "remains," "thinks," "intends," "believes," "estimates," and similar expressions and include management's current expectation of its longer term prospects for success. These forward-looking statements are based on our current expectations, estimates, assumptions and projections about our business and industry, and the markets and customers we serve, and they are subject to numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Such risks and uncertainties include the timing and possible delays, deferrals and cancellations of orders by customers; quarterly revenue fluctuations; industry and sector cyclicality, instability and unpredictability; market demand for consumer devices utilizing semiconductors produced by our clients; our ability to manage costs; new product introductions, market acceptance of new products and enhanced versions of our existing products; reliability and technical acceptance of our products; our lengthy sales cycles, and the timing of system installations and acceptances; lengthy and costly development cycles for laser-processing and lithography technologies and applications; competition and consolidation in the markets we serve; improvements, including in cost and technical features, of competitors' products; rapid technological change; pricing pressures and product discounts; our ability to collect receivables; customer and product concentration and lack of product revenue diversification; inventory obsolescence; general economic, financial market and political conditions and other factors outside of our control; domestic and international tax policies; cybersecurity threats in the United States and globally that could impact our industry, customers, and technologies; and other factors described in our SEC reports including our Annual Report on Form 10-K filed for the year ended December 31, 2013, and our Quarterly Report on Form 10-Q for the three months ended September 28, 2013. Due to these and other factors, the statements, historical results and percentage relationships set forth herein are not necessarily indicative of the results of operations for any future period. We undertake no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.
About Ultratech: Ultratech, Inc. (Nasdaq: UTEK) designs, builds and markets manufacturing systems for the global technology industry. Founded in 1979, Ultratech serves three core markets: front-end semiconductor, back-end semiconductor, and nanotechnology. The company is the leading supplier of lithography products for bump packaging of integrated circuits and high-brightness LEDs. Ultratech is also the market leader and pioneer of laser spike anneal technology for the production of advanced semiconductor devices. In addition, the company offers solutions leveraging its proprietary coherent gradient sensing (CGS) technology to the semiconductor wafer inspection market and provides atomic layer deposition (ALD) tools to leading research organizations, including academic and industrial institutions. Visit Ultratech online at: www.ultratech.com.
SOURCE Ultratech, Inc.