IPG Photonics Expands Laser Production with Purchase of Veeco GEN2000 MBE System

  IPG Photonics Expands Laser Production with Purchase of Veeco GEN2000 MBE
  System

Business Wire

PLAINVIEW, N.Y. -- March 10, 2014

Veeco Instruments Inc. (Nasdaq:VECO) announced today that IPG Photonics
Corporation (IPG), purchased an additional GEN2000® Production Molecular Beam
Epitaxy (MBE) System to add to their fleet of Veeco MBE systems.

Located in Oxford, Massachusetts, IPG will use the GEN2000 for high-volume
manufacturing of laser diodes for fiber lasers. IPG Photonics Corporation is
the world leader in high-power fiber lasers and amplifiers and now utilizes
multiple Veeco MBE systems in its laser production operations. Veeco is the
market leader in MOCVD, MBE, Ion Beam and other advanced thin film process
technologies.

“Veeco’s GEN2000 is the perfect complement to our existing set of Veeco MBE
systems because of its superior throughput and low production costs,” said Dr.
Alex Ovtchinnikov, Senior Vice President, Components at IPG Photonics. “Having
the ability to transfer production methods from our other Veeco MBE systems
means we can ramp laser diode production quickly and reliably to meet
increasing demand for our fiber lasers.”

With their excellent performance, low power consumption and favorable
ownership costs, fiber lasers are becoming the cutting and welding method of
choice for materials processing applications, particularly in the automotive
industry, according to a report on the laser cutting market from Markets and
Markets. As the technology continues to advance, fiber lasers are gaining
adoption in other industries including semiconductor processing, 3-D printing
and smartphone manufacturing.

“IPG is the clear leader in fiber laser production and has been utilizing our
production MBE systems for years,” said Jim Northup, Vice President, General
Manager for Veeco’s MBE Operations. “The GEN2000 delivers the highest
throughput and lowest cost of ownership MBE technology in the industry, making
it the ideal system to manufacture IPG’s high performance laser diodes.”

About GEN2000 Production MBE System

The GEN2000 MBE System delivers exceptional throughput and cost of ownership
for high-capacity production applications. Its cluster tool design provides
the industry’s most cost effective 7x6” epiwafer growth of devices such as
lasers, multi-junction solar cells, and pseudomorphic high-electron-mobility
transistors (pHEMTs). Its cluster tool architecture minimizes clean-room space
and downtime attributed to maintenance and allows for growth of different
materials in connected modules.

About IPG Photonics Corporation

IPG Photonics Corporation is the world leader in high-power fiber lasers and
amplifiers. Founded in 1990, IPG pioneered the development and
commercialization of optical fiber-based lasers for use in diverse
applications, primarily materials processing. Fiber lasers have revolutionized
the industry by delivering superior performance, reliability and usability at
a lower total cost of ownership compared with conventional lasers, allowing
end users to increase productivity and decrease operating costs. IPG has its
headquarters in Oxford, Massachusetts, and has additional plants and offices
throughout the world. For more information, please visit www.ipgphotonics.com.

About Veeco

Veeco’s process equipment solutions enable the manufacture of LEDs, flexible
OLEDs, power electronics, hard drives, MEMS and wireless chips. We are the
market leader in MOCVD, MBE, Ion Beam and other advanced thin film process
technologies. Our high performance systems drive innovation in energy
efficiency, consumer electronics and network storage and allow its 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,
2013 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.

Contact:

Veeco
Investors:
Debra Wasser, 516-677-0200 x1473
dwasser@veeco.com
or
Media:
Jeffrey Pina, 516-677-0200 x1222
jpina@veeco.com
 
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