FREMONT, Jul 09, 2020 (GLOBE NEWSWIRE via COMTEX) -- ACM Research, Inc. ("ACM") /zigman2/quotes/205487080/composite ACMR -7.00% , a leading supplier of wafer cleaning technologies for advanced semiconductor devices, announced that its operating subsidiary ACM Research (Shanghai), Inc. ("ACM Shanghai") has begun construction of its new development and production facility in the Lingang Special Area of China (Shanghai) Pilot Free Trade Zone.
ACM Shanghai held a groundbreaking ceremony on July 7, 2020, to mark the commencement of construction. The facility site is located in the Lingang region of Shanghai, which is approximately 30 miles from ACM Shanghai's headquarters in Zhangjiang. Local government officials attended the ceremony, together with customers, suppliers, and ACM Shanghai's board members and employees.
ACM President and Chief Executive Officer Dr. David Wang commented, "We are very excited to celebrate this milestone with our community, as this expansion will represent another significant achievement in our mission to become a major supplier of capital equipment to the global semiconductor industry. The Lingang facility reflects our long-term commitment to the fast-growing China market, and is intended to support potential growth of our operations in Korea, the Taiwan region and the United States and to further scale production for our expanding product line of semiconductor capital equipment."
The new 100,000 square meter factory and development facilities will incorporate state-of-the-art modern manufacturing systems and significant automation technologies. It will provide the floorspace to support significantly more production capacity and related R&D activities when fully-staffed and supplied.
Information presented in this press release with respect to ACM Shanghai's construction of a development and production facility in the Lingang Special Area, as well as ACM's intention to grow its operations and production upon completion of 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 Shanghai to (a) timely construct and begin operating the facility as required by the agreement with the China (Shanghai) Pilot Free Trade Zone Lingang Special Area Administration under which ACM Shanghai acquired land use rights for construction, (b) conduct manufacturing operations at the facility at a capacity that will satisfy sales requirements under such agreement, and (c) reduce production costs to the extent contemplated by ACM. ACM Shanghai'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 semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, stress-free polishing and thermal processes that are critical to advanced semiconductor device manufacturing, as well as wafer-level packaging. The company is committed to delivering customized, high performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield.
The ACM logo is a trademark of ACM Research, Inc. All rights reserved.
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