ACM Research Announces Plans to Acquire Land Rights for R&D and Production Center in Shanghai’s Lingang Region
December 02 2019 - 8:00AM
ACM Research, Inc. (“ACM”) (NASDAQ:ACMR), a provider of
single-wafer wet cleaning equipment used by manufacturers of
advanced semiconductors, today announced that its operating
subsidiary ACM Research (Shanghai), Inc. (“ACM Shanghai”) has
entered into an agreement with the Shanghai Lingang Industry Zone
Economic Development Co., Ltd. and the Administrative Committee of
China (Shanghai) Pilot Free Trade Zone Lingang Special Area, to
initiate a bidding process to acquire land rights in the Shanghai,
Lingang region. If the process is completed successfully, ACM
Shanghai would construct a new R&D center and production
facility on the land, located approximately 30 miles from ACM
Shanghai’s headquarters in Zhangjiang.
ACM’s President and Chief Executive Officer Dr. David Wang
commented, “We are moving forward with plans to expand our
long-term production capacity, as we continue our mission to become
a major supplier of capital equipment to the global semiconductor
industry. The Lingang project would reflect a continuing
commitment to the fast-growing China market, support growth of our
operations in Korea, the United States and Taiwan, and further
scale production for our SAPS, TEBO, Tahoe, ECP and future
products.”
Dr. Wang continued, “We believe that building and owning, rather
than leasing our R&D and production facilities. could
ultimately reduce our facility costs by 75%, and provide us with
stability to make long-term R&D and manufacturing investments
to support the world-class operations demanded by our growing
customer base.”
ACM Shanghai aims to complete a definitive agreement for the
project by the first half of 2020, subject to a formal bidding
process. The preliminary agreement contemplates that if ACM
Shanghai successfully completes the process, it will purchase
rights to use the land for 50 years, begin construction of a new
R&D center and factory in the second half of 2020, and start
initial production in late 2022.
Forward-Looking Statements
Information presented in this press release with respect to
ACM’s proposal for ACM Shanghai to acquire rights to land in
Lingang and to construct facilities on that land constitutes
forward-looking statements for purposes of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
ACM Shanghai may be unable to negotiate and finalize the proposed
acquisition and construction on terms acceptable to, and on the
schedule contemplated by, ACM Shanghai as the result of a number of
risks and uncertainties, including unanticipated delays in the
bidding and negotiation process. ACM expressly disclaims any
obligation to update forward-looking statements after the date of
this press release.
About ACM Research, Inc.
ACM develops, manufactures and sells single-wafer wet cleaning
equipment, which semiconductor manufacturers can use in numerous
manufacturing steps to remove particles, contaminants and other
random defects, and thereby improve product yield, in fabricating
advanced integrated circuits.
© ACM Research, Inc. The ACM logo, SAPS, and TEBO are trademarks
of ACM Research, Inc. For convenience, these trademarks appear in
this press release without ™ symbols, but that practice does not
mean that ACM will not assert, to the fullest extent under
applicable law, its rights to the trademarks.
For investor and media inquiries, please
contact:
In the United
States:
The Blueshirt GroupRalph Fong+1 (415)
489-2195ralph@blueshirtgroup.com
In
China:
The Blueshirt Group AsiaGary Dvorchak, CFA+86 (138)
1079-1480gary@blueshirtgroup.com
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