Varian Semiconductor’s Wind Energy Project Moves Forward
Varian Semiconductor Equipment Associates, Inc. (NASDAQ: VSEA) announced today that it has received approval from the Gloucester City Council to construct two wind turbines at its world headquarters property in Gloucester, Massachusetts.
“Varian Semiconductor appreciates the significant amount of time the city council has taken to study and grant approval for our project,” said Rick Johnson, director of facilities at Varian Semiconductor. “We are also very appreciative that Mayor John Bell was behind this project 100% throughout the entire process.”
The two 2.5 megawatt wind turbines are projected to produce 14 million kilowatt hours of power per year, about 65 percent of Varian’s annual use of electricity. Varian will be able to use approximately 70% of that power, with the remaining 30% being sold back to the local power company. In addition, Varian’s use of clean wind energy will have a significantly positive effect on the environment. It will eliminate approximately 7,600 tons of carbon dioxide, 12 tons of sulfur dioxide and 4 tons of nitrogen oxide each year.
The lessons Varian learned in navigating the wind project development process will add educational value for the community at large. Varian has agreed to partner with the Gloucester School Department to share information about the science as well as the economic and policy considerations surrounding alternative energy technologies. This will become part of the school department’s educational programs, and Varian has also agreed to allow the wind turbines to be used as an “on-site laboratory” for the schools.
“We believe the residents of Gloucester will ultimately be very pleased with the turbines because they will put the city at the forefront of renewable energy generation in Massachusetts, improve the regional environment, and help maintain the economic health of Gloucester’s largest employer,” Johnson concluded.
Varian hopes to start site work in the spring of 2008.
About Varian Semiconductor
Varian Semiconductor Equipment Associates is the leading supplier of ion implant equipment to semiconductor manufacturers, enabling them to pack more, higher performing transistors into computer chips that are revolutionizing the electronics industry. Varian Semiconductor’s products are used by chip manufacturers worldwide to produce high-performance semiconductor devices. Customers have made Varian Semiconductor the market leader in ion implant because of its architecturally superior products that lower their costs and improve their productivity. The Company has ranked #1 in the VLSI Research Customer Satisfaction Survey 10 times over the last 11 years. Varian Semiconductor operates globally and is headquartered in Gloucester, Massachusetts. More information can be found on Varian Semiconductor’s web site at www.vsea.com.
Note: This release contains forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. For this purpose, the statements concerning the Company’s performance, market share and technology leadership, technological capabilities and benefits and growth are forward-looking statements and any statements using the terms “believes,”"anticipates,”"expects,”"plans,” or similar expressions are forward-looking statements. There are a number of important risks and factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, volatility in the semiconductor equipment industry; economic conditions in general and as they affect the Company’s customers; significant fluctuations in the Company’s quarterly operating results; the impact of rapid technological change; the Company’s dependence on the development and introduction of new products; the Company’s concentration on ion implantation systems and related products; concentration in the Company’s customer base and lengthy sales cycles; the highly competitive market in which the Company competes; the risks associated with international sales; foreign currency risks; and general economic conditions; and other factors identified in the Company’s Annual Report on Form 10-K, and the most recent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. The Company cannot guarantee any future results, levels of activity, performance or achievement. The Company undertakes no obligation to update any of the forward-looking statements after the date of this press release.
Contacts: Ed Strenk Marketing Communications 978.282.2298 Email Contact Or Jim Kawski Marketing Communications 978.282.2234 Email Contact
SOURCE: Varian Semiconductor