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FOR IMMEDIATE RELEASE
AQUEST AND GORES CONFIRM
PROPOSAL TO ACQUIRE ASYST TECHNOLOGIES
SUNNYVALE AND LOS
ANGELES, Calif.,
July 17, 2008— Aquest Systems Corp. today
confirmed that on July 9th they submitted a proposal to Asyst
Technologies, Inc. to acquire the company for $6.50 per share in cash and
that Asyst and Aquest met on July 15th with respect to such
proposal. In response to the July 15th follow-up letter to
Aquest from Asyst, and Asyst’s related July 16th press release,
Aquest and The Gores Group, LLC are jointly releasing the following letter.
July 17, 2008
Dr. Stephen S. Schwartz
President & Chief Executive Officer, Chairman of the Board
Asyst Technologies, Inc.
46897 Bayside Parkway
Fremont, CA
94538
Re: Proposal to Acquire Asyst Technologies, Inc. (“Asyst”)
Dear Steve:
Thank you for your July 15, 2008 letter. We are happy to
hear that you and the Asyst board are prepared to move forward with
discussions regarding our proposal. Each of us, together with Aquest
Systems, Corp’s (“Aquest”) current investors, are enthusiastic about
proceeding with due diligence and engaging in discussions with respect to
Aquest’s non-binding proposal to acquire Asyst for $6.50 per share in
cash. We believe the market’s reaction to your disclosure of Aquest’s
July 9, 2008 proposal supports the fact that your institutional and other
market investors find our proposal attractive.
In your July 15, 2008 letter, you asked various questions
regarding our proposed capital structure for the combined Asyst/Aquest
entity. Based on our limited due diligence to date, neither we nor
any additional partners we choose to include in this transaction, can
provide definitive answers at this stage. However, each of us is
pleased to confirm the following:
- Aquest
hereby reiterates that it is highly confident in its ability to fund
and close the proposed transaction. Funding sources would
include Aquest’s current investors (Menlo Ventures, Walden
International and Global Catalyst Partners), The Gores Group, LLC and
potentially other third parties who have expressed interest in
participating in the proposed transaction;
- The Gores
Group, LLC, a private equity firm managing committed equity capital of
over $1.7 billion, hereby confirms its interest in participating in
the proposed transaction along side Aquest and other investors;
- In
connection with the proposed transaction, Asyst’s debt, stock options
and other equity equivalents would be treated in accordance with their
terms.
We are excited about the prospect of moving forward on the
proposed transaction. Of course, progress depends on Asyst’s
cooperation, including with respect to customary due diligence.
We look forward to meeting very soon to move forward
expeditiously with our discussions.
Sincerely,
AQUEST SYSTEMS CORP.
By:
__________________________
Name: Mihir Parikh
Title: President and Chief Executive Officer
THE GORES GROUP, LLC
By: __________________________
Name: Scott M. Honour
Title: Senior Managing Director
cc: Jordan W. Katz,
Managing Director, The Gores Group, LLC
Aquest Board of Directors:
H. Dubose Montgomery, Founder and MD, Menlo Ventures
Lip-Bu Tan, Founder and Chairman, Walden International
Koji Osawa, Co-founder and Managing Principal, Global Catalyst Partners
Gidu Shroff, Former Corp. VP, Intel Corp.
About Aquest Systems
Founded in 2004, Aquest Systems is the pioneer of
No-Wait-Manufacturing(SM) (NWM) automation technologies for the worldwide
semiconductor industry. A truly global company, Aquest employs a
worldwide organization to efficiently leverage talent and resources in the United States, Japan,
Taiwan and India.
The company is privately held and headquartered in Sunnyvale, Calif.
More information can be found at www.aquestsystems.com.
About The Gores Group, LLC
Founded in 1987, The Gores Group, LLC is a private equity firm
focused on acquiring controlling interests in mature and growing businesses
which can benefit from the firm's operating experience and flexible capital
base. The firm combines the operational expertise and detailed due
diligence capabilities of a strategic buyer with the seasoned M&A team
of a traditional financial buyer. The Gores Group, LLC has become a leading
investor having demonstrated over time a reliable track record of creating
substantial value in its portfolio companies alongside management.
Headquartered in Los Angeles, The Gores
Group, LLC maintains offices in Boulder,
Colorado, and
London. For more
information, please visit www.gores.com.
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FOR
IMMEDIATE RELEASE
AQUEST TO RECEIVE ANOTHER PATENT ON REVOLUTIONARY
FABEX™ SYSTEM
Unique FabEX Curve Technology
Increases AMHS Performance
SUNNYVALE,
Calif., June 23, 2008—Aquest Systems, the developer of next-generation automated material
handling systems (AMHS) for the global semiconductor industry, today
announced that the United States Patent and Trademark Office (USPTO) will
be issuing an important patent covering aspects of the FabEX™ system that
are critical to customers and distinct to Aquest.
While
most patents take more than three
years to process, notice of allowance for this application took less than a
year because of the unique properties of FabEX technology. Aquest’s
first patent, number 7,281,623, was issued and assigned to Aquest Systems
in October 2007—only 18 months after filing.
The
first patent concerned FabEX AMHS’s ability to transport semiconductor
wafer containers via front opening unified pods (FOUPs) at high speeds
(>3 meters/second), with low vibration throughout
a semiconductor fab. The new patent covers the technology that
enables FOUPs in the FabEX AMHS to move smoothly around curves without
stopping. In addition to significant gains in throughput
and performance, the technology minimizes moving parts and vibrations to
increase system reliability.
Commenting
on this latest patent, Aquest’s Chief Engineer and Principal Inventor, Barry Kitazumi, noted, “Aquest is pleased that
the unique capabilities of our FabEX technology are being recognized and
protected. The FabEX curve has been extremely well-received by
industry-leading IC manufacturers in Taiwan
and Korea
and is now protected by a strong portfolio of patents.”
Aquest’s
FabEX products help deliver on the company’s vision for
No-Wait-ManufacturingSM by enabling chipmakers to significantly
reduce or eliminate the unnecessary waits or delays that negatively affect
both the productivity and profitability of their fabs.
The
company’s innovations are protected by a web of patents involving numerous leading-edge
features. By leveraging Mihir Parikh’s
experience—from being the founder of Asyst Technologies, to being the
founder and chief executive officer of Aquest—the company has created
next-generation AMHS technologies that are unparalleled to its competitors.
Also assisting in Aquest’s success is Carr and Ferrell LLP, a law firm
based in Palo Alto, Calif. that specializes in protecting
and enhancing innovations that drive businesses around the world.
In
addition to this most recent notice of allowance, Aquest has more than a
dozen other patents pending, both in the United States and internationally,
focused on protecting FabEX’s distinct capabilities. These include
reducing delivery time, increasing transport capacity, easing installation,
and ensuring maintainability and flexibility.
About Aquest
Systems
Founded in 2004,
Aquest Systems is the pioneer of No-Wait-ManufacturingSM (NWM)
automation technologies for the worldwide semiconductor industry. A
truly global company, Aquest employs a worldwide organization to
efficiently leverage talent and resources in the United
States, Japan,
Taiwan and India.
The company is privately held and headquartered in Sunnyvale, Calif.
More information can be found at www.aquestsystems.com.
No-Wait-Manufacturing
(NWM) is a service mark of Aquest Systems.
FabEX
is a trademark of Aquest Systems
Back to Index
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FOR
IMMEDIATE DISTRIBUTION
AQUEST SYSTEMS EXPANDS COMPANY
PRESENCE IN
TAIWAN AND KOREA WITH MULTIPLE SYSTEM
ORDERS
FabEX™ AMHS Enables Productivity
and Profitability Improvements
for IC Manufacturers Worldwide
SUNNYVALE,
Calif., May 6, 2008—Aquest Systems, developer of the next generation of Automated
Material Handling Systems (AMHS) for the global semiconductor industry,
today announced the receipt of multiple orders from new customers for its
FabEX™ AMHS solutions. The new customers include a leading
semiconductor foundry and a leading DRAM memory producer—expanding Aquest’s
customer base in Taiwan
and marking its first system orders in Korea. These latest wins
demonstrate the growing confidence among today’s foundries and chipmakers
that Aquest can deliver the higher levels of fab productivity and
profitability they need in today’s competitive market.
These
new orders follow on the heels of Aquest’s introduction of its
No-Wait-ProductivitySM Improvement (NPI) solution—now in
volume production and used at Taiwan’s Powerchip
Semiconductor Corporation’s (PSC) twin memory fabs, P1 and P2.
Demonstrated at PSC, a key element of NPI is that it does not require a fab
to slow down or stop production for installation. In fact, Aquest’s
patented FabEX Transporter helps unburden the automation solutions
previously installed in today’s IC fabs without software or mechanical
modifications. Interfacing directly with the existing stockers and overhead
transport (OHT) vehicles, the FabEX Transporter allows chipmakers to
immediately speed cycle time, improve equipment utilization and increase
production capacity.
The new
orders from Taiwan and Korea will integrate Aquest’s FabEX
Transporter with an already installed AMHS system from Japan’s Asyst-Shinko, a
subsidiary of Asyst Technologies (NASDAQ: ASYT), and from Daifuku (TYO:
6383). Both projects mark the start of a phased, multi-million-dollar
plan by each of the customers to significantly improve the productivity of
their existing fabs, utilizing the unique capability of Aquest’s FabEX
Transporter to upgrade their current AMHS solutions.
Commenting
on the new orders, Michael Brain,
Aquest’s vice president of technology and marketing, stated, “With new customers
in both Taiwan and Korea,
it is apparent that there is growing interest in our technology from a
number of the industry’s leading manufacturers. As Taiwan and Korea are major hubs for
production, these strategic additions to our growing customer roster
solidify Aquest’s position at the forefront of the automation revolution
that will significantly improve productivity at a fraction of the cost of
already installed automated material handling systems.”
About
FabEX AMHS
FabEX
AMHS is an optimized, No-Wait-AMHSSM that brings Aquest’s
No-Wait-ManufacturingSM vision to fruition. With its
patent-pending FabEX Transporter technology, which transports
wafer-containers, called FOUPs, at high speeds (>3 meters/second), FabEX
AMHS is significantly faster than conventional AMHS built from conveyors or
overhead hoist vehicles. It also has the ability to move around
curves, while minimizing vibrations with minimal particle generation.
Finally, since FabEX AMHS does
not need vehicles, it provides the high capacity afforded by conventional
conveyor systems. All of this, coupled with sophisticated
internet-protocol (IP) technology-based controls and software, enable
seamless integration into semiconductor fabs.
About Aquest
Systems
Founded in 2004,
Aquest Systems is the pioneer of No-Wait-Manufacturing (NWM) automation
technologies for the worldwide semiconductor industry. A truly global
company, Aquest employs a worldwide organization to efficiently leverage
talent and resources in the United States,
Japan, Taiwan and India. The company is
privately held and headquartered in Sunnyvale,
Calif. More information
can be found at www.aquestsystems.com.
No-Wait-Manufacturing,
No-Wait-Productivity, and No-Wait-AMHS are service marks of Aquest
Systems.
FabEX
is a trademark of Aquest Systems.
Back to Index
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FOR IMMEDIATE RELEASE
AQUEST SYSTEMS COMPLETES
INSTALLATION AT POWERCHIP SEMICONDUCTOR
FabEX™ AMHS Improves IC Fab
Productivity
SUNNYVALE,
Calif., April 7, 2008—Aquest Systems, developer of the next-generation Automated Material
Handling Systems (AMHS) for the global semiconductor industry, today
announced the completion of a multimillion-dollar installation at two of
Powerchip Semiconductor Corporation’s [Taiwan OTC: 5346.TWO] 300-mm twin
fabs—P1 and P2. Based in Taiwan, PSC is a world leader
in the manufacture of semiconductor memory products.
This
installation leverages Aquest’s No-Wait-ProductivitySM (NWP)
improvement solution announced in November of last year. To help
overburdened automation solutions installed in today’s IC fabs, Aquest’s
patented FabEX Transporter was designed to be readily assimilated into
existing fabs, requiring no changes to customers’ established automation
systems, and interfacing directly with the stockers and to overhead
transport (OHT) AMHS vehicles. Installing the FabEX Transporter
allows chipmakers like PSC to speed cycle time, improve equipment
utilization, and increase production capacity. In addition to these
benefits, productivity improvements based on Aquest’s solution are immediate.
PSC has
installed more than 300 meters of Aquest’s next generation AMHS, the
high-speed, high-capacity FabEX Transporter improving the productivity of
PSC’s existing automated material handling system from Asyst
Technologies. The 300 meters of FabEX Transporter added to PSC’s
existing automated system, including 18 stocker interfaces and OHT drop-off
locations, moves thousands of FOUPs (front opening unified pods of wafers)
each day between PSC’s fabs P1 and P2. Over the last few months of
operation, Aquest’s FabEX Transporter demonstrated reliability and up-time
comparable to current automated systems in the market.
Commenting
on the installation, Bruce Liao,
Aquest’s Taiwan
vice president and general manager, added, “The successful collaboration
with PSC is evidence that our Asia-based business model is an effective
method for creating next-generation automation products. We value our
strong partnership with Powerchip Semiconductor, and are looking forward to
maintaining a long-standing relationship with this leading
chipmaker.”
About
FabEX AMHS
FabEX
is an optimized, No-Wait-AMHS that brings Aquest’s No-Wait-Manufacturing
vision to fruition. With its patent-pending technology which
transports wafer-containers, called FOUPs, at high speeds (>3 meters/second),
FabEX is significantly faster than conventional AMHS built from conveyors
or overhead hoist vehicles. It also has the ability to move around
curves, while minimizing vibrations with minimal particle generation.
Finally, since FabEX does not need any vehicles, it provides the high
capacity afforded by conventional conveyor systems. All of this,
coupled with sophisticated internet-protocol (IP) technology-based controls
and software, enable seamless integration into semiconductor fabs.
About
Aquest Systems
Founded
in 2004, Aquest Systems is the pioneer of No-Wait-ManufacturingSM
(NWM) automation technologies for the worldwide semiconductor
industry. A truly global company, Aquest employs a worldwide
organization to efficiently leverage talent and resources in the United States, Japan,
Taiwan and India.
The company is privately held and headquartered in Sunnyvale, Calif.
More information can be found at www.aquestsystems.com.
No-Wait-Manufacturing,
No-Wait-Productivity, and No-Wait-AMHS are service marks of Aquest
Systems.
FabEX
is a trademark of Aquest Systems.
Back to Index
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FOR IMMEDIATE RELEASE
AQUEST
SYSTEMS TO OPEN
NO-WAIT-AMHSSM CENTER
Development Facility for Next-generation IC Fab
Automation Capability
SUNNYVALE, Calif.
and TAICHUNG, Taiwan, March 3, 2008—Aquest Systems, which is developing next-generation
Automated Material Handling Systems (AMHS) for the global semiconductor
industry, today announced the development of a multimillion-dollar
No-Wait-AMHSSM (NWA) facility in Taichung, Taiwan. Located
in close proximity to major IC manufacturers, the new facility, named NWA,
will demonstrate the benefits of Aquest’s FabEX™-based AMHS for high-volume
300-mm IC fabrication. The NWA will be another critical step of
implementing Aquest’s No-Wait-ManufacturingSM vision—a vision
for a family of products and services that provide IC manufacturers with a
solution to significantly reduce or eliminate the unnecessary waits or
delays that affect manufacturing productivity in an IC fab.
Expected
to come on-line later this year, the new NWA will be in a dedicated 20,000
square-foot facility in Taichung,
and will offer the full breadth of Aquest’s FabEX™ hardware and
software automation solutions, which will be installed to accurately
simulate a 300-mm IC fab in production. Specifically, the NWA will
simulate interactions with more than 48 different types of processing and
inspection/metrology systems. This will involve 100 loadports as well
as interfaces to stockers and fab-wide material control software.
Over 300 meters of Aquest’s FabEX Transporter and more than 18 FabEX
Loaders will be installed in the NWA. A representative process flow
will be utilized to quantify the expected impact of NWA on significantly
reducing fab cycle time. Overall, the NWA solution is expected to
improve the productivity of IC manufacturers with faster swap times, better
response to burst capacity needs and a higher movement capacity per bay
that exceeds 1,000 moves per hour—all with significantly shorter delivery
times compared to conventional systems.
The NWA
facility will develop, test and optimize NWA sub-systems and products in
partnership with Tera Autotech Corporation and a major Japanese automation
company. Tera Autotech is a Taiwan-based company that focuses on the
engineering, manufacture and distribution of automation equipment and micro
drills for various industries. The resulting Aquest products will be
fabricated via manufacturing partners in Taiwan
and Japan.
According
to Aquest, in order to protect the unique aspects of the FabEX-based AMHS
sub-systems and the NWA architecture, multiple international patents have
been filed.
“We
look forward to collaborating with Aquest to help commercialize the
next-generation AMHS technology for advanced IC fabs, especially in Taiwan,”
commented Tera Autotech President, Leon
Lee. “This partnership reflects our dedication to
developing next-generation automation solutions to meet the IC industry’s
requirements to improve productivity.”
“Supporting Aquest and its partners in the development
of this state-of-the-art facility here in Taiwan
is a win-win situation,” stated Wen-Ke Yang, director-general of the
Central Taiwan Science Park Administration, National Science Council,
Executive Yuan, Taiwan,
R.O.C. “We are confident that having this facility in Taiwan
will help move the Taiwanese semiconductor industry forward—through next-generation automation systems
designed to enhance productivity, and ultimately improved profitability for
the IC manufacturer.”
Aquest
President & CEO, Dr. Mihir Parikh,
added, “Creation of the NWA is the first step in the establishment of
various partnerships being consummated with major IC manufacturers for
active involvement in the NWA facility and the development of the
FabEX-based No-Wait-AMHS solution.” Such customer partnerships are
expected to be announced shortly.
About
No-Wait-AMHSSM
No-Wait-AMHS
(NWA) is a critical step in Aquest’s No-Wait-ManufacturingSM
vision. With its patented and patent-pending FabEX™ technology which
transports wafer-containers, known as FOUPs, at high speeds (>3
meters/second), FabEX is significantly faster than conventional AMHS built
from conveyors or overhead hoist vehicles. It also has the ability to
move around curves, while minimizing vibrations with minimal particle
generation. Finally, since FabEX does not need any vehicles, it
provides the high capacity afforded by conventional conveyor systems.
All of this, coupled with sophisticated internet-protocol (IP)
technology-based controls and software, enable seamless integration into
semiconductor fabs.
About
Aquest Systems
Founded
in 2004, Aquest Systems is the pioneer of No-Wait-ManufacturingSM
(NWM) automation technologies for the worldwide semiconductor
industry. A truly global company, Aquest employs a worldwide
organization to efficiently leverage talent and resources in the United States, Japan,
Taiwan, Singapore and India. The company is
privately held and headquartered in Sunnyvale,
Calif. More information
can be found at www.aquestsystems.com.
No-Wait-AMHS
(NWA) and No-Wait-Manufacturing
(NWM) are service marks of Aquest Systems.
FabEX
is a registered trademark of Aquest Systems.
Back to Index
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FOR IMMEDIATE RELEASE
AQUEST SYSTEMS OFFERS RISK-FREE
FAB PRODUCTIVITY IMPROVEMENT
SOLUTION
FabEX™
No-Wait-ProductivitySM Improvement Solution
Enables an Automation ‘Highway’
for IC Manufacturers
SUNNYVALE,
Calif., Nov. 12, 2007—Aquest Systems, a developer of innovative automation solutions for
the global semiconductor industry, today announced the availability of its
new FabEX™ No-Wait-ProductivitySM Improvement (NPI)
solution. Leveraging the FabEX Transporter Aquest announced in May of
last year, the FabEX NPI solution optimizes material movement in an
existing fab by eliminating bottlenecks and congestions that impact IC manufacturers’
fab productivity. The solution quickly, easily and without risk
enhances fab productivity, as it connects without any changes to the IC
manufacturers’ existing automated material handling systems (AMHS).
Addressing
the widely-found areas in a typical fab where existing AMHS with overhead
transport (OHT) vehicles cannot keep up with IC fab productivity
improvement requirements, FabEX eliminates unnecessary delays and reduces
the load on already-installed systems. By adding Aquest’s patented
FabEX Transporter to their existing AMHS, IC manufacturers are able to
circumvent the congestion using an alternative route or ‘highway’ to move
front opening unified pods (FOUPs) at high speeds (>3 meters/second)
between various critical locations in the fab. In turn, chipmakers
see a reduction in FOUP delivery times, as well as an increase in fab-wide
transport capacity.
“Introducing
NPI reaffirms our commitment to developing a new genre of IC fab automation
solutions that delivers on our promise of ‘No-Wait-Manufacturing’,” said
Aquest founder and CEO Mihir Parikh.
“Our corporate strategy is based on enabling IC manufacturers around the
world to dramatically reduce delays in the IC fab, as well as improve both
productivity and profitability. NPI accomplishes this by integrating
into their current automation systems, thereby assuring risk-free
productivity improvement.”
Enhancing
fab productivity, while also removing risk, this advanced solution works in
tandem with existing automated systems. The FabEX NPI connects to
installed stockers, OHT vehicles and material control systems (MCS),
without requiring any changes to the existing AMHS. With proper
planning, Aquest’s NPI solution does not require a fab to slow down or stop
production. In fact, the NPI can be expeditiously integrated with any
fab’s current AMHS without mechanical or software modifications,
reinforcing Aquest’s No-Wait-ManufacturingSM vision of enhancing
fab ROI by boosting fab productivity.
Commenting
on the launch, Michael Brain,
Aquest’s vice president of technology and marketing, added, “NPI is the
only solution in the industry that fully integrates with existing,
installed AMHS to solve numerous productivity challenges in a fab.
For example, as reported in July this year, Aquest has integrated the FabEX
‘highway’ into Powerchip Semiconductor’s current AMHS, which is designed to
provide additional capacity to move 8,000 FOUPS per day at high speeds
between their two fabs, 12A and 12B, with average delivery times of less
than 140 seconds.”
FabEX
NPI is available now, and Aquest is planning significant installations in
existing IC fabs worldwide.
Aquest’s No-Wait-Manufacturing
(‘NWM’) Vision
NWM is
a vision for a family of products and services that provide IC
manufacturers with a solution to significantly reduce or eliminate the
unnecessary ‘waits’ or delays that affect manufacturing productivity in an
IC fab. Some common causes of ‘waits’ in today’s fabs are:
- The vehicle-based
architecture of today’s Automated Material Handling
Systems (AMHS)
- Scheduling complexity due
to changes in priority, caused by the introduction of ‘hot’ lot
and equipment down situations
- Equipment front-end
connectivity and availability, especially for smaller lots
As a
pioneer and leader in the NWM vision, Aquest will provide IC manufacturers
with a value-add solution to address each of these waits or delays through
a phased introduction of unique products and services—designed to
significantly enhance fab productivity and increase the flexibility of fab
layout and expansion.
About Aquest
Systems
Founded in 2004,
Aquest Systems is the pioneer of No-Wait-Manufacturing (NWM) automation
technologies for the worldwide semiconductor industry. A truly global
company, Aquest employs a worldwide organization to efficiently leverage
talent and resources in the United States,
Japan, Taiwan and India. The company is
privately held and headquartered in Sunnyvale,
Calif. More information
can be found at www.aquestsystems.com.
No-Wait-Manufacturing
and No-Wait-Productivity are service marks of Aquest Systems.
FabEX
is a trademark of Aquest Systems.
Back to Index
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FOR IMMEDIATE RELEASE
Aquest
Receives Patent On Revolutionary Fabex™ System
Broad patent issues only 18 months after filing
SUNNYVALE,
Calif., October 23, 2007—Aquest Systems, a developer of innovative automation
solutions for the global semiconductor industry, today announced that the
United States Patent and Trademark Office (USPTO) has issued a broad patent
to protect Aquest’s FabEX™ automated material handling system (AMHS). While
most patents take more than three years to receive, this patent only took
18 months due to a special accelerated examination granted by the
USPTO.
The first of a
series of patents currently pending in the U.S. and internationally, patent
number 7,281,623 was issued and assigned to Aquest Systems on October 16
and includes 36 claims surrounding Aquest’s FabEX AMHS technology.
Specifically, the patented technology concerns FabEX AMHS’s ability to
transport wafer containers via front opening unified pods (FOUPs) at high
speeds (>3 meters/second) throughout a semiconductor fab. It also allows
the FabEX system to move FOUPs around curves and ramps while minimizing
moving parts and vibrations to increase system reliability.
Commenting on the
technology patent, Aquest’s chief engineer and principal inventor, Barry Kitazumi, noted, “Aquest’s unique FabEX
technology has enabled us to produce a system that far exceeds the speed
and capacity of other systems in the market. As a result, we are committed
to protecting our technology prowess—taking the steps necessary to preserve
the integrity of our intellectual property.”
Aquest’s FabEX
product portfolio helps deliver on the company’s vision for
No-Wait-ManufacturingSM by enabling chipmakers to significantly
reduce or eliminate the unnecessary waits or delays that negatively impact
both the productivity and profitability of their fabs.
Aquest’s innovations
are protected by a web of patents involving numerous leading-edge features.
Aquest is leveraging the experience of Mihir Parikh, the founder of Aquest
Systems and previously the founder of Asyst Technologies (NASDAQ: ASYT), in
creating next-generation AMHS technologies, while utilizing Palo Alto,
Calif., law firm Carr and Ferrell LLP’s extensive background in protecting
and enhancing the ideas and innovations that drive businesses around the
world.
In addition to the
recently issued patent, Aquest has more than a dozen other patents pending,
both in the United
States and internationally, focused on
protecting FabEX’s unique capabilities. These include reducing delivery
time, increasing transport capacity, easing installation, and ensuring
maintainability and flexibility.
About Aquest Systems
Founded in 2004, Aquest Systems
is the pioneer of No-Wait-ManufacturingSM (NWM) automation
technologies for the worldwide semiconductor industry. A truly global
company, Aquest employs a worldwide organization to efficiently leverage
talent and resources in the United States,
Japan, Taiwan and India. The company is
privately held and headquartered in Sunnyvale,
Calif. More information
can be found at www.aquestsystems.com.
No-Wait-Manufacturing
(NWM) is a service mark of Aquest Systems
FabEX is a
registered trademark of Aquest Systems.
Back to Index
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FOR IMMEDIATE RELEASE
Aquest
systems receives multimillion-dollar
Purchase order from Powerchip semiconductor
FabEX™
Automated Material Handling System to be Deployed in 300-mm Fabs
SUNNYVALE,
Calif., July 9, 2007—Aquest Systems, which is developing innovative automation
solutions, today announced it has received an order valued at more than two
million dollars from Powerchip Semiconductor Corporation [Taiwan OTC:
PSC]. Based in Taiwan,
PSC is a world leader in the manufacture of semiconductor memory
products. The milestone order is for Aquest’s new FabEX™ automated
material handling system (AMHS), which is designed to improve IC fab
manufacturing productivity by delivering both high speed and high capacity
advances over conventional vehicle-based AMHS. Company officials
report that FabEX is slated for installation this month at two of PSC’s
300-mm fabs—12A and 12B.
According to Dr.
Mihir Parikh, president & CEO of Aquest, “During a six-month period of
collaborative work with the PSC team, we optimized FabEX to provide PSC
with high capacity and the short delivery times needed to meet their
manufacturing requirements. We are optimistic that this first step
will demonstrate FabEX’s capability to provide a fully integrated fab-wide
AMHS solution to fulfill Aquest’s vision of No-Wait-ManufacturingSM.”
Commenting on the
order, Aquest’s Taiwan
General Manager Bruce Liao noted, “Aquest’s FabEX is of interest to many IC
manufacturers, both here in Taiwan
and around the world. Many of these chipmakers are looking to upgrade
their already installed vehicle-based AMHS systems with FabEX to
significantly improve productivity for both inter-fab and intra-fab
applications. Since Aquest’s business model is built around Taiwan,
our organization is ideally suited to initially provide comprehensive
engineering and applications support to a growing Taiwanese customer-base.”
FabEX was designed
to be readily assimilated into operating fabs with software and hardware
interfaces all based on industry standards. As such, the integration
of FabEX is very straightforward—essentially requiring no changes to
customers’ existing AMHS solutions. Moreover, the Aquest team has had
extensive experience implementing automation technology into existing fabs
to improve productivity. This expertise has been paramount in
developing the FabEX solution, which is now poised to revolutionize material
handling in both new and existing IC fabs around the world.
About FabEX AMHS
FabEX is an
optimized, No-Wait-AMHS that brings Aquest’s No-Wait-Manufacturing vision
to fruition. With its patent-pending technology, which transports
wafer-containers, called FOUPs, at high speeds (>3 meters/second), FabEX
is significantly faster than conventional AMHS built from conveyors or
overhead hoist vehicles. It also has the ability to move around
curves, while minimizing vibrations with minimal particle generation.
Finally, since FabEX does not need any vehicles, it provides the high
capacity afforded by conventional conveyor systems. All of this,
coupled with sophisticated internet-protocol (IP) technology-based controls
and software, enable seamless integration into semiconductor fabs.
About Aquest Systems
Founded in 2004, Aquest Systems
is the pioneer of No-Wait-ManufacturingSM (NWM) automation
technologies for the worldwide semiconductor industry. A truly global
company, Aquest employs a worldwide organization to efficiently leverage
talent and resources in the United States,
Japan, Taiwan and India. The company is
privately held and headquartered in Sunnyvale,
Calif. More information
can be found at www.aquestsystems.com.
No-Wait-Manufacturing
(NWM) is a service mark of Aquest Systems
FabEX is a
registered trademark of Aquest Systems.
* Front
Opening Unified Pods - FOUPS
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FOR IMMEDIATE RELEASE
AQUEST SYSTEMS UNVEILS ITS
BREAKTHROUGH
AUTOMATED MATERIAL HANDLING
SYSTEM
Company’s New FabEX™ Automation
Solution Delivers Unprecedented
Productivity Advantages
for Today’s IC Manufacturers
SUNNYVALE,
Calif., May 9, 2007—Aquest Systems, which is developing innovative automation
solutions, today unveiled FabEX™, a new type of automated material handling
system (AMHS) designed to improve fab productivity by delivering higher
speeds and greater capacity than conventional AMHS. According to
company officials, the complete FabEX product portfolio will help deliver
on Aquest’s vision for No-Wait-ManufacturingSM by enabling
chipmakers to significantly reduce or eliminate the unnecessary waits or
delays that negatively impact both the productivity and profitability of
their fabs.
Aquest’s
No-Wait-Manufacturing Vision
In today’s
multibillion-dollar fabs, productivity is one of the greatest contributors
to fab ROI, while depreciation is one of the biggest cost factors. Yet, all
too often, the multimillion-dollar production systems used to manufacture
chips stand idle waiting for wafers. This can be due to wafers
waiting to be delivered to equipment, waiting for pick up at the equipment,
or waiting in stockers pending transport. No-Wait-Manufacturing is
about drastically reducing or eliminating these delays to help chipmakers
worldwide improve equipment utilization, reduce overall cycle times and
boost fab productivity.
 According to G. Dan Hutcheson, CEO
of VLSI Research, as the hot, new company in the automation arena, Aquest
has the potential to deliver on the promise of the industry’s productivity
improvement initiative called 300 Prime. “The last time Mihir Parikh
brought new technology to the semiconductor industry, he completely
transformed the landscape with automated mini-environment systems that are
now the industry standard. Mihir has proven that he is very good at
anticipating and solving the problems IC manufacturers face. Clearly,
No-Wait-Manufacturing is a core concept that could similarly transform
300-mm manufacturing.”
FabEX: Turning
the Vision into Reality
FabEX is an
optimized, “No-Wait” AMHS that brings Aquest’s No-Wait-Manufacturing vision
to fruition. With its patent-pending technology, which transports
wafer containers, called FOUPs (Front Opening Unified Pods), at high speeds
(>3 meters/second), FabEX is significantly faster than conventional AMHS
built from conveyors or overhead hoist vehicles. It also has the ability
to move around curves and ramps, while minimizing vibrations with minimal
particle generation. Finally, since FabEX does not need any vehicles,
it provides the high capacity afforded by conventional conveyor systems.
All of this, coupled with sophisticated internet-protocol (IP)
technology-based controls and software, enable seamless integration into
semiconductor fabs.
In a typical 300-mm
fab, wait times for a conventional overhead transport vehicle to arrive,
pick up and move a wafer to the next process step are usually sixty seconds
or more. On average, FabEX AMHS can reduce that time to less than
five seconds, which translates into faster and more consistent delivery
times. This, in turn, will allow manufacturers to shorten cycle
times, improve equipment utilization and increase production capacity—all
of which are key requirements for next-generation IC fabs.
Another unique
aspect of the FabEX technology is its inherent simplicity. With
significantly fewer moving parts than conventional AMHS vehicles or conveyors,
it is designed to deliver higher reliability and a lower cost of ownership.
And by reliably and predictably increasing the number of moves per
hour, FabEX allows users to optimize lot sizes and increase their fab
productivity.
Commenting on today’s
launch, Dr. Mihir Parikh, president and CEO of Aquest, adds, “Our long
experience in creating successful, industry-standard automation products at
Asyst positions us to create the next-generation AMHS with a complete
family of products based on FabEX. With our Asia-based business
model, which optimizes our global organization around customer proximity
and cost-effectiveness, we are confident in gaining market share and
creating industry-leading shareholder value.”
Aquest reports that
FabEX has already received significant commitments from some of today’s
leading chipmakers with initial shipments and installations starting in
June of this year.
About Aquest Systems
Founded in 2004,
Aquest Systems is a pioneer of No-Wait-ManufacturingSM (NWM)
automation technologies for the worldwide semiconductor industry. A
truly global company, Aquest leverages a strategic outsourcing strategy to
efficiently leverage resources in the United
States, Japan,
Taiwan and India,
in order to deliver superior value. Its efficient production
organization and innovative automation technologies are focused on driving
significant productivity gains for semiconductor manufacturers. The
company is privately held and headquartered in Sunnyvale, Calif.
More information can be found at www.aquestsystems.com
No-Wait-ManufacturingSM
(NWM) is a service mark of Aquest Systems.
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FOR IMMEDIATE RELEASE
Aquest augments executive team with the appointment of Mark Mesler as chief financial officer
SUNNYVALE,
Calif., April 3, 2007—Aquest Systems, a pioneer of innovative automation solutions that
are expected to set new performance standards in the global semiconductor
industry, today announced that Mark Mesler,
39, has joined the company as vice president of finance and chief financial
officer. In his new role, Mesler will assume responsibility for the
company’s finance, accounting and management information systems—helping to
drive Aquest’s global business model as the company moves to commercialize
its breakthrough automation technologies.
According to
Aquest’s chief executive officer, Dr. Mihir Parikh, Mesler is joining the
company as it begins to shift into the early customer acceptance phases of
its technology deployment. “Given Mark’s worldwide experience in
financial management, we see him playing a crucial role in optimizing both
our global operations and financial execution—especially as we begin to
populate our automation solutions in today’s leading-edge chip
manufacturing facilities,” stated Parikh.
Commenting on his
decision to join Aquest, Mesler noted that he was impressed with the
company’s unique global business model, which optimizes talent and
resources from around the world to take advantage of regional expertise and
customer clusters. “This will not only enable optimal financial
performance for shareholders, but also ensure proximity-based customer
support, thus enabling greater levels of customer satisfaction,” stated
Mesler.
Mesler joins Aquest
from yield management leader, KLA-Tencor Corporation, where he held a
number of financial leadership positions, including: group financial
controller; business unit financial controller; and manager of operations
finance and worldwide revenue. Most recently, Mesler served as a
director of finance, where he oversaw KLA-Tencor’s international finance
operations in China, Japan, Korea,
Singapore, Taiwan and the United States.
Prior to KLA-Tencor,
Mesler spent several years at Black Box Network Services—most recently as
manager of mergers and acquisitions. During this time, he was a key
member behind more than 20 acquisitions. Mesler’s more than
fifteen-year career also includes a five-year stint at a major printing and
document services business, where he served as vice president of business
development. Mesler began his career as a financial analyst at
Electronic Data Systems (EDS) Corporation.
Mesler holds a
bachelor’s degree in finance from Pennsylvania
State University,
University Park, Penn.,
and a master’s degree in business administration from Carnegie
Mellon University,
Pittsburgh, Penn.
About Aquest Systems
Founded in 2004,
Aquest Systems is a pioneer of No-Wait-ManufacturingSM (NWM)
automation technologies for the worldwide semiconductor industry. A
truly global company, Aquest leverages a strategic outsourcing strategy to
efficiently leverage resources in the United
States, Japan,
Taiwan and India,
in order to deliver superior value. Its efficient production
organization and innovative automation technologies are focused on driving
significant productivity gains for semiconductor manufacturers. The
company is privately held and headquartered in Sunnyvale, Calif.
More information can be found at www.aquestsystems.com
No-Wait-ManufacturingSM
(NWM) is a service mark of Aquest Systems.
Back
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FOR IMMEDIATE RELEASE
AQUEST RAISES $20 MILLION IN
SECOND VENTURE ROUND
Major
financing from global investors to fund commercialization of Aquest’s
breakthrough automation technology for the global semiconductor industry
SUNNYVALE, Calif., Feb. 26, 2007—Aquest Systems, a pioneer of innovative
automation solutions that are expected to set new performance standards in
the global semiconductor industry, today announced it has raised $20
million in its second round of venture financing. Company officials report
that the funds will be used to drive commercialization of the company’s
breakthrough automation systems, which are primed to enable
No-Wait-ManufacturingSM (NWM)—an increasingly critical requirement for
short-cycle chip manufacturing in today’s consumer-driven era.
Participants in this latest round include existing lead investor Menlo
Ventures and two international investment firms—Walden International and
Global Catalyst Partners (GCP). The global nature of the venture firms
involved is consistent with Aquest’s business model, designed to optimally
leverage talent and customer-oriented resources around the world to deliver
compelling price/performance benefits to customers. In addition to
accelerating commercial availability of Aquest’s automation systems, the
new financing will enable the company to aggressively service its first
major installation at a leading IC company in Asia.
Aquest was established in late 2004 by a team of automation experts
committed to developing a new genre of automation solutions that can
deliver on the promise of “No-Wait-Manufacturing.” The company was founded
by automation pioneer Dr. Mihir Parikh, who also founded Asyst Technologies
(Nasdaq: ASYT) and served as the company’s CEO for over 18 years. Now, as
CEO of Aquest, Parikh is creating the next generation of automation systems
to support the current industry initiative of 300 Prime and a vision for
the 450-mm era.
The funding comes at a high point
in Aquest’s technology roadmap, with preparations already under way for the
first major installation of the company’s new automation system. “Today is
the first of many milestones for Aquest as we take our much-needed NWM
vision to the market,” said Parikh. “With these two world-class global
investors joining our long-term partner, Menlo Ventures, we are entering
our next phase of growth with a unique technology and cost-effective
business model that are ideally suited to meet the industry’s incessant
demand for higher productivity, more cost-efficient automation technologies—especially
for small-lot, short-cycle manufacturing.”
According to Menlo Ventures’ founder and managing director, H. DuBose
Montgomery, the investment in Aquest marks his firm’s second major
partnership with Parikh. “As founding investors in 1984 with Mihir’s first
company, Asyst, we are proud to have seen Mihir build a $500 million
company. This time we look forward to helping him build an even more
successful company with a game changing approach to address the chip
industry’s automation requirements,” said Montgomery.
Aquest’s newest investors are equally excited about the company’s
prospects. Walden’s founder and chairman, Lip-Bu Tan, noted, “As global
investors, we share Aquest’s vision to create an Asia-centric,
customer-responsive and cost-efficient company that provides unique
automation solutions for both the IC and LCD manufacturing markets.”
Mr. Koji Osawa, Global Catalyst Partners’ co-founder and managing
principal, concurred, adding, “GCP’s extensive network of Japanese partners
will complement Dr. Parikh’s proven expertise in building successful
partnerships and joint ventures in Asia,
and Japan in particular. We look forward to helping the company build its
global organization to ensure that chip manufacturers worldwide have access
to Aquest’s industry-leading technology.”
About Aquest Systems
Founded in 2004,
Aquest Systems is a pioneer of No-Wait-ManufacturingSM (NWM)
automation technologies for the worldwide semiconductor industry. A
truly global company, Aquest leverages a strategic outsourcing strategy to
efficiently leverage resources in the United
States, Japan,
Taiwan and India,
in order to deliver superior value. Its efficient production
organization and innovative automation technologies are focused on driving
significant productivity gains for semiconductor manufacturers. The
company is privately held and headquartered in Sunnyvale, Calif.
More information can be found at www.aquestsystems.com
No-Wait-ManufacturingSM
(NWM) is a service mark of Aquest Systems.
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