CoorsTek Establishes Lasered Ceramic Substrate Capability in Korea.
CoorsTek, Inc. (Nasdaq: CRTK), a leading designer and manufacturer of critical components and integrated assemblies for the semiconductor capital equipment industry and other high technology applications, is expanding the capacity of its subsidiary, CoorsTek Korea, to include lasered substrates. These ceramic substrates are used in the production of electronic circuits for the telecommunications and automotive markets. John K. Coors, CoorsTek's Chairman, President, and Chief Executive Officer, announced the expansion while visiting the Korean subsidiary.
While discussing his tour of the subsidiary, John Coors commented, "It has been exciting to witness firsthand the growth of CoorsTek Korea and the success we are enjoying in the dynamic and growing Asian market. This subsidiary currently provides ceramic components for semiconductor processing equipment, power generation machinery, and other heavy industry applications. Now, with our expansion into lasered substrates, we are further diversifying our customer base to include leading electronics manufacturers."
CoorsTek Korea is installing state-of-the-art laser equipment using technology developed and refined by CoorsTek in the United States and Scotland. The expansion in Korea enhances CoorsTek's position as the world's leading producer of thick-film and thin-film substrates and extends its offering of lasered substrates to all key global markets. CoorsTek Korea is expected to begin production of the lasered substrates during the first quarter of 2001.
"As planned, we have developed a strategic foothold in Asia, serving customers in South Korea, Japan, Singapore, and Taiwan. Our full complement of capabilities, from engineering and prototyping to forming, firing, and finishing components, expedites time to market and reduces distribution costs -- an important competitive advantage in a market that is trending toward local component sourcing," Mr. Coors concluded.
CoorsTek designs and manufactures components, integrated assemblies, and automated systems for the semiconductor capital equipment market and other high technology applications. Using technical ceramics, precision-machined metals, and plastics, the Company's engineered solutions enable customers' products to overcome technological barriers and improve performance. For additional information on CoorsTek, visit the Company's website: www.coorstek.com.
Certain statements in this Press Release constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward looking statements involve known or unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of CoorsTek to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements. Specifically, CoorsTek's ability to successfully increase its lasered substrate business in Asia is dependent on numerous factors including access to and acquisition of the laser equipment, adequate working capital and long-term capital to support the expansion, efficient manufacturing processes, reliability of the technology, competitive activities, outlook of the electronics industry, and general economic conditions. More detailed information regarding risks and uncertainties is available in the Company's Registration Statement on Form S-1 (No. 333-38824), as amended, filed with the Securities and Exchange Commission, which is available free of charge at the Commission's website: www.sec.gov