GEINO, Japan, Dec. 5, 2000-Cabot Microelectronics Corp. (Nasdaq: CCMP), the leading supplier of chemical mechanical planarization (CMP) slurries to the semiconductor industry, today announced it will further expand manufacturing capacity by 100 percent at its facility in Oaza-Kitakoyama Industrial Park in Geino, Japan. As a direct result of escalating customer demand in the Asia-Pacific region, the new 73,000 square-foot addition marks the second such expansion of this facility since it opened in January 1999. Just one year ago, Cabot Microelectronics expanded manufacturing capacity at the Geino facility by 150 percent. Final completion of this latest expansion is scheduled for July 2001.
"Our business grew 85 percent in fiscal year 2000. Approximately half of this growth was derived from the Asia-Pacific region," stated Dan Pike, Cabot Microelectronics' vice president of operations. "As our customers implement advanced semiconductor process technologies, including shrinks, copper interconnect and 300 mm wafers, we expect continued growth in CMP. Semiconductor manufacturers in the Asia-Pacific region have been especially aggressive in this pursuit."
Cabot Microelectronics' Japanese Business Manager Hiro Nishiya noted, "Investments in additional semiconductor capacity continue to fuel our growth. We are monitoring over 60 significant investments in new fab capacity. Two thirds of these investments are in the Asia-Pacific region. This latest expansion at our Geino facility will enable us to respond to this anticipated growth."
The Geino expansion consists of two phases. The first phase, to be completed in December 2000, is expected to expand manufacturing capacity by 33 percent. At the completion of phase two, scheduled for July 2001, the entire expansion effort is expected to increase manufacturing capacity by 100 percent. The plant, which achieved ISO 9002 certification in April 2000, mirrors manufacturing technology utilized at the company's U.S. operations in Aurora, Ill.
Cabot Microelectronics, headquartered in Aurora, Ill., is the leading supplier of CMP slurries for polishing various materials used in semiconductor manufacturing processes. The company's products play a critical role in its customers' manufacturing processes, enabling the manufacture of smaller, faster and more complex devices. Cabot Microelectronics is traded on Nasdaq under the symbol CCMP. For more information on Cabot Microelectronics, visit our website www.cabotcmp.com or call (630) 499-2600.
The statements contained in this press release may contain "forward-looking statements." Actual results may differ materially from those anticipated in such forward-looking statements. All forward-looking statements are expressly qualified in their entirety by the risk factors and other cautionary statements included in Cabot Microelectronics' filings with the Securities and Exchange Commission.