Nova Celebrates Installation of the 200th Metrology System in South Korea
Company Also Announced Plans to Establish a Korean Local Branch in the Near Future
REHOVOT, Israel, September 15, 2010 /PRNewswire-FirstCall/ -- Nova Measuring Instruments Ltd. (NASDAQ: NVMI) provider of leading edge stand-alone metrology and the market leader of integrated metrology solutions to the semiconductor process control market, today announced the installation of its 200th metrology system in South Korea. The Company also announced that it is in the process of establishing a local branch to further enhance its support of the rapidly growing installed base in South Korea. The Company will continue its long standing and successful collaboration with Misan Corporation which played a key role in establishing and growing Nova's business in South Korea in the past decade.
Commenting on the announcement, Buck Kim, President of Nova's Asia Pacific subsidiary said: "We are very pleased with this great achievement and appreciate the vote of confidence our South Korean customers have given us over the years. The combination of deep collaboration with our customers, a great local team and a robust product offering have delivered success in a market driven by volume, high productivity and cutting edge technology - leading to the 200 units installed. The strength of the South Korean market and our latest products, that are currently being introduced, make me confident in our ability to continue and grow into the future. "
About Nova: Nova Measuring Instruments Ltd. develops, produces and markets advanced integrated and stand alone metrology solutions for the semiconductor manufacturing industry. Nova is traded on the NASDAQ & TASE under the symbol NVMI. The Company's website is http://www.nova.co.il.
This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding trends, demand for our products, expected deliveries, transaction, expected revenues, operating results, earnings and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward looking statements. These risks and other factors include but are not limited to: our dependency on two process control product lines; the highly cyclical nature of the markets we target; our inability to reduce spending during a slowdown in the semiconductor industry; our ability to respond effectively on a timely basis to rapid technological changes; our dependency on OEM suppliers; risks associated with our dependence on a single manufacturing facility; our ability to expand our manufacturing capacity or marketing efforts to support our future growth; our dependency on a small number of large customers and small number of suppliers; risks related to our intellectual property; changes in customer demands for our products; new product offerings from our competitors; changes in or an inability to execute our business strategy; unanticipated manufacturing or supply problems; changes in tax requirements; changes in customer demand for our products; risks related to currency fluctuations and risks related to our operations in Israel. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in Nova's Annual Report on Form 20-F for the year ended December 31, 2009 filed with the Securities and Exchange Commission on March 26, 2010. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Measuring Instruments Ltd. does not assume any obligation to update the forward-looking information contained in this press release.
Company Contact:
Dror David, Chief Financial Officer
Nova Measuring Instruments Ltd.
Tel: +972-8-938-7505
E-mail: [email protected]
http://www.nova.co.il
Investor Relations Contacts:
Ehud Helft / Kenny Green
CCG Investor Relations
Tel: +1-646-201-9246
E-mail: [email protected]
SOURCE Nova Measuring Instruments Ltd
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