Veeco Instruments Promotes Jeannine Sargent to EVP, General Manager of 'Nano-Bio Instruments' AFM Business
Ed Braun, Veeco's Chairman & Chief Executive Officer, commented, "This Nano-Bio Instruments initiative will leverage and extend Veeco's leading AFM/Scanning Probe (SPM) research product line to accelerate product definition and development through a more focused effort in nanomaterials, life sciences and bio AFM applications. Jeannine's marketing and operational background in metrology and instrumentation, as well as her experience with emerging technologies, make her well-suited to lead Veeco's efforts to grow this important part of our business."
“Veeco's goal is to align our significant annual R&D budget for research AFM to those portions of the nano-instrumentation market that are expected to have the highest growth rate and where there is a real market need for novel metrology tools to address research challenges.”
According to Strategic Directions International, Inc.'s June 2004 report, life science instrumentation will be the fastest growing portion of the analytical instrumentation business from 2003-2008, forecasted to grow 29% CAGR versus a 6% overall CAGR for the industry. Don Kania, Ph.D., Veeco's President and Chief Operating Officer commented, "Veeco's goal is to align our significant annual R&D budget for research AFM to those portions of the nano-instrumentation market that are expected to have the highest growth rate and where there is a real market need for novel metrology tools to address research challenges."
Ms. Sargent, who will retain her Corporate Marketing and Business Development responsibilities in addition to leading the "Nano-Bio Instruments" business, commented, "We plan to take a three-pronged approach to new nano/bio product development. First, we will extend our leading AFM/SPM solutions to both high-end and low-end segments of the scientific research market. Second, we will launch specially designed systems to better meet the needs of bio-physicists and cell biologists who want high-resolution instruments that can visualize cells, DNA and proteins, yet are fast and easy-to-use. Third, we will focus a significant amount of our R&D efforts to create new instruments for atomic-level nanomaterials research, complementing the work we are already doing through our NIST grant with The Dow Chemical Company."
Veeco Instruments Inc. provides solutions for nanoscale applications in the worldwide data storage, LED/wireless, semiconductor and scientific research markets. Our Metrology products are used to measure at the nanoscale and our Process Equipment tools help create nanoscale devices. Veeco's manufacturing and engineering facilities are located in New York, New Jersey, California, Colorado, Arizona and Minnesota. Global sales and service offices are located throughout the United States, Europe, Japan and Asia Pacific. Additional information on Veeco can be found at http://www.veeco.com/.
To the extent that this news release discusses expectations about market condition, market acceptance and future sales of Veeco's products, Veeco's future financial performance, 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 cyclical nature of the LED/wireless, data storage, semiconductor and research markets, risks associated with integrating acquired businesses and the acceptance of new products by individual customers and by the marketplace and other factors discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K.