Veeco revenue will exceed $1 billion this year, China's largest contribution

According to Veeco (NASDAQ: VECO) forecast data in 2011, Veeco's total revenues will exceed $1 billion, of which 50% will come from Chinese market. At the news conference on the completion of Veeco China Training Center in May 10th, Veeco Global CEO John R. PeELer told reporters. According to John R. Peele, Veeco 2010 total revenue of $933 million, of which nearly 30% from China market, amounted to $267 million, compared with $30 million in 2009 has made huge growth. In 2010, Veeco supplied 20 customers with a metal organic chemical vapor deposition (MOCVD) system, which includes existing LED producers, joint ventures, and a number of newly established companies. A part of as Veeco announced in the fall of the Asia Pacific region expansion plan, Veeco new Chinese training center in Shanghai in May 10th officially opened, will provide better support for the rapid development of LED industry and customer demand. John R. Mr. Peeler said at the ceremony: "China ongoing large-scale investment, to become the leading global producer of LED, the product will be used for domestic consumption and export. In fact, China has made it clear that by the end of 2015, to achieve the goal of LED 30% of the domestic lighting market share. The Veeco opened a new customer support and training center in Shanghai to support the rapid growth of the Chinese market, to further consolidate the leading position in the field of Veeco. "Veeco is responsible for the sales and service of senior vice president of global Peter Mr. Collingwood added:" many of our customers are new or large-scale expansion of the factory, the factory is located in the place of most of the new'LED green energy park. ". And we set up a training center in Shanghai, the purpose is to help Veeco customers in China to accelerate the production of LED on the road to go more quickly and smoothly. "It is reported that the new Veeco China training center covers an area of about 1700 square meters, with approximately 40 employees. The center has three classrooms, and equipped with market leading Veeco TurboDisc K465i MOCVD system. The training program will include the introduction of the TurboDisc MOCVD system, the characterization of the crystalline film process, and more advanced hardware maintenance and troubleshooting training courses. "Of the new training center, is the first China designed for LED industry tailored similar institutions. Our goal is to provide professional training to hundreds of engineers over the next 12 months to help them become familiar with Veeco's MOCVD system. Veeco president and general manager of Greater China, Mr. Wang Keyang told reporters LED. Mr. Peeler said: "Veeco will invest more than $30 million to expand business in the Asia Pacific region during 2011, help our customers continue to accelerate the adoption of LED in consumer electronics and solid state lighting in pace. We will be in Taiwan, Hsinchu (which is expected to open in August this year) and Seoul, South Korea (is expected to open in early 2012) to open a new research and development, demonstration and processing support base. "