PLAINVIEW, N.Y., Dec. 22, 2015 /PRNewswire/ -- Veeco Instruments Inc. (Nasdaq: VECO) announced today that it has received multiple orders from a leading foundry in Asia for its Precision Surface Processing (PSP) WaferStorm™ system. The WaferStorm platform provides wafer processing solutions for advanced packaging applications.
Veeco's flux cleaning technology will process wafers for Fan-out Wafer Level Packaging (FO-WLP) production. Fluxing is critical to both wafer bumping and joint formation processes because it removes oxide layers and other impurities to ensure a clean metallic interface for the next assembly step. As bump pitches become finer, removing flux residues has become more challenging. Veeco's proprietary technology is well suited for removal of flux residues from even the tightest spacing.
In its latest report, TechSearch International projects FO-WLP unit volume to grow at a compound rate of 87% over the next five years. According to TechSearch, FO-WLP is an attractive solution that allows companies to continue taking advantage of the powerful economics of die shrink, while also meeting the small form factor, low-profile package requirements of mobile devices.
"As the complexity of the packaging process increases, our differentiated technology enables customers to more tightly control the flux removal process resulting in higher yields," said Herman Itzkowitz, Senior Vice President and General Manager of Veeco PSP. "As part of Veeco's global reach, we've been successful in penetrating new customers in Asia for advanced packaging applications. In addition to securing business with a leading Asian foundry this quarter, we've also received initial system orders from an Asian OSAT customer and believe that our process flexibility and expertise will enable us to expand the business in 2016."
Approximately one year ago, Veeco acquired Solid State Equipment Corporation (SSEC) and renamed the business to "Veeco Precision Surface Processing" or PSP. The PSP business continues to promote innovative leadership in single-wafer wet etch, clean and surface preparation equipment. Veeco's comprehensive product portfolio addresses a broad range of Advanced Packaging applications. The WaferStorm platform offers flexible solutions for thick film removal, flux clean and through-silicon via (TSV) clean. The WaferEtch™ system enables selective etching required for TSV reveal, under-bump metallization and redistribution layer processes. Veeco's global footprint and customer connectivity, notably in Asia, are helping to capitalize on PSP's growing technology and business.
About Veeco
Veeco's process equipment solutions enable the manufacture of LEDs, displays, power electronics, compound semiconductors, hard disk drives, semiconductors, MEMS and wireless chips. We are the leader in MOCVD, MBE, Ion Beam, Wet Etch single wafer processing and other advanced thin film process technologies. Our high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow our customers to maximize productivity and achieve lower cost of ownership. For information on our company, products and worldwide service and support, please visit www.veeco.com.
To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2014 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
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SOURCE Veeco Instruments Inc.
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