STEAG Opens Semiconductor Equipment Manufacturing Plant in the U.S.

Austin, TX–STEAG MicroTech Inc. has opened its first equipment production plant for the semiconductor industry in the United States. The move was prompted by statistics indicating that 40 percent of all semiconductor equipment produced in Germany was shipped to the U.S. market. STEAG MicroTech Inc`s parent company, the STEAG Group`s core activities were concentrated in the power generation sector, four years ago, it began production of equipment for manufacturing microchips, flat panel displays and compact discs with the STEAG MicroTech companies.

Initially begun on a small scale, production has grown rapidly. In 1995, the company achieved sales and service revenues of $60 million. An increase of 50 percent to approximately $170 million is expected for 1996. With an initial investment of $100 million, the company projects semiconductor market sales of approximately $335 million by the end of the decade, and further expansion of the manufacturing and lab capacity in Austin is being planned.