AXT Announces an Expansion of Its Sales Presence in Asia With the Appointment of Dr. Liming Zhu as Vice President of Sales, Asia
November 08 2010 - 8:00AM
Marketwired
AXT, Inc. (NASDAQ: AXTI), a leading manufacturer of compound
semiconductor substrates, today announced that it has appointed
Liming Zhu, Ph.D. vice president of sales for the Asia region. Zhu
previously served as AXT's vice president of quality and quality
systems for the company's manufacturing facility in Beijing, China.
This appointment represents an expansion of AXT's direct, local
sales presence in Asia, marking the increasing strategic importance
of this geographic region.
"Liming has done a tremendous job for AXT in our quality and
quality systems division and his knowledge of our products and our
customers makes him a perfect fit to head up our sales efforts in
this increasingly important region," said Morris Young, chief
executive officer. "There is an abundance of opportunity in Asia
and having a direct, local presence underscores our commitment to
this region and enhances our ability to respond quickly and
effectively to customer needs. We believe this expansion will help
drive continued market share growth in Asia and I look forward to
working with Liming in his new role."
Zhu was appointed vice president of quality and quality systems
for AXT early this year after serving as director of quality and
quality systems for AXT since 2007. He joined AXT in 2001 and has
held various positions including senior process R&D engineer,
senior project manager and product reliability manager.
Zhu earned his Ph.D. in chemical engineering from the East China
Institute of Technology. He also holds a master's degree and a
bachelor's degree in chemical engineering from East China Institute
of Technology. He had an extensive research career prior to joining
AXT and currently holds five patents.
About AXT, Inc. AXT designs, develops,
manufactures and distributes high-performance compound and single
element semiconductor substrates comprising gallium arsenide
(GaAs), indium phosphide (InP) and germanium (Ge) through its
manufacturing facilities in Beijing, China. In addition, AXT
maintains its sales, administration and customer service functions
at its headquarters in Fremont, California. The company's substrate
products are used primarily in lighting display applications,
wireless communications, fiber optic communications and solar cell.
Its vertical gradient freeze (VGF) technique for manufacturing
semiconductor substrates provides significant benefits over other
methods and enabled AXT to become a leading manufacturer of such
substrates. AXT has manufacturing facilities in China and invests
in five joint ventures producing raw materials. For more
information, see AXT's website at http://www.axt.com.
Safe Harbor Statement The foregoing
paragraphs contain forward-looking statements within the meaning of
the Federal Securities laws, including statements regarding the
company's sales of germanium substrates to the Galileo Satellite
Navigation program through its customer, AZUR SPACE Solar Power
GmbH, as well as other satellite programs worldwide. These
forward-looking statements are based upon specific assumptions that
are subject to uncertainties and factors relating to the company's
operations and business environment, which could cause actual
results of the company to differ materially from those expressed or
implied in the forward-looking statements contained in the
foregoing discussion. These uncertainties and factors include but
are not limited to: overall conditions in the markets in which the
company competes; global financial conditions and uncertainties;
market acceptance and demand for the company's products; the impact
of factory closures or other events causing delays by our customers
on the timing of sales of our products; and other factors as set
forth in the company's annual report on Form 10-K and other filings
made with the Securities and Exchange Commission. Each of these
factors is difficult to predict and many are beyond the company's
control. The company does not undertake any obligation to update
any forward-looking statement, as a result of new information,
future events or otherwise.
Contacts: Raymond A. Low Chief Financial Officer (510) 683-5900
Leslie Green Green Communications Consulting, LLC (650)
312-9060
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