ACM Research Finalizes Agreement to Acquire Land Rights for Development and Production Center in Shanghai’s Lingang Special...
May 13 2020 - 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”), through
a recently formed subsidiary, has entered into an agreement with
the China (Shanghai) Pilot Free Trade Zone Lingang Special Area
Administration to acquire land use rights in the Lingang Heavy
Equipment Industrial Zone of the Lingang Special Area of China
(Shanghai) Pilot Free Trade Zone. Under the agreement, ACM Shanghai
plans to build a development and production facility 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 reflects a long-term commitment to
the fast-growing China market, will serve to support growth of our
operations in Korea, the United States and the Taiwan region, and
will enable us to further scale production for our expanding
product line of semiconductor capital equipment.”
Dr. Wang continued, “We believe that building and owning, rather
than leasing, our development and production facilities will
significantly reduce our facility costs at scale, and provide us
with stability to make long-term development and manufacturing
investments to support the world-class operations demanded by our
growing customer base.”
Forward-Looking StatementsInformation presented
in this press release with respect to ACM Shanghai’s proposed
construction of a development and manufacturing facility, as well
as ACM’s proposal to grow its capacity and operations based on
production at that facility, constitute forward-looking statements
for purposes of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
significantly from ACM’s expectations based on a number of risks
and uncertainties, including but not limited to the potential
inability of ACM Research to timely construct and begin operating
the facility as required under the agreement and to conduct
manufacturing operations at the facility at a capacity that will
satisfy sales requirements under the agreement and reduce
production costs to the extent contemplated by ACM. ACM’s ability
to satisfactorily construct and operate the facility is subject to
its funding of the project, its compliance with applicable legal
requirements and, more generally, global economic conditions,
including the continuing impact of the COVID-19 pandemic. ACM
expressly disclaims any obligation to update forward-looking
statements after the date of this press release, except as required
by law.
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.
For investor and media inquiries, please
contact:
In the United
States: |
The Blueshirt
Group |
|
Ralph Fong |
|
+1 (415) 489-2195 |
|
ralph@blueshirtgroup.com |
|
|
In China: |
The Blueshirt Group Asia |
|
Gary Dvorchak, CFA |
|
+86 (138) 1079-1480 |
|
gary@blueshirtgroup.com |
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