July 6, 2011

Steed Technology Inc. and Highvac Corp. Announce Merger

SCOTTS VALLEY, Calif. and COLORADO SPRINGS, Colo., July 6, 2011 /PRNewswire/ -- Steed Technology, a leading provider of thermal processing equipment and process gas abatement systems today announced that they have merged with Highvac of Colorado Springs, CO. Highvac Corp. is a leading U.S. supplier of vacuum pumps, accessories and related equipment and services. Steed Technology and Highvac both primarily serve customers in the Semiconductor, LED and Solar Industries, which lends to the marriage of these two companies.

The newly-merged company will operate under the name Steed Technologies with headquarters at Highvac's 45,000 Sq. Ft. manufacturing and distribution facility in Colorado Springs, CO.

A main focus of the merger involves ramping up sales channels, as well as expanding existing channels both domestically and internationally while putting an increased focus on new customers in regions with new, stricter air quality restrictions. With the combination of Steed's EcoGuard point of use (PoU) abatement systems and Highvac's established vacuum pump sales and service centers, current and future customers will have access to a wider variety of vacuum/abatement solutions to better serve their specific application requirements. Highvac has service centers throughout the U.S. around the world. These locations will serve as the foundation for growth into different global regions going forward, providing customers with faster, more convenient access to service and support for vacuum and gas abatement products.

Highvac's long term, core competency of process vacuum pumps and support lends itself well with Steed's newly introduced EcoGuard "Point of Use" abatement (PoU) technology. Through this strategic alliance, Steed and Highvac have developed a total "Sub-Fab" solution that they will offer to end user customers and OEMs alike. The Sub-Fab solution is a totally integrated system that includes vacuum and abatement technologies, and an onboard environmental control panel feature developed by Steed Technology. By combining these technologies into a packaged, turnkey product, customers will no longer have to piece together vacuum and abatement systems from separate technology providers, and will be able to purchase process vacuum pumps and exhaust abatement equipment as a totally integrated system through a single vendor.

Continuing the Highvac model of local support centers is a key ingredient when it comes to providing customers the services required to maintain mission-critical manufacturing lines in a highly responsive manner. Support centers will be expanded throughout the U.S. and globally, including Taiwan , Korea , China , Singapore and Europe as efforts are aggressively ramped up to support customers demand for process vacuum and abatement technologies.

An additional aspect of the merger is the creation of Steed's Green Consulting Service. The merger adds considerable value to this consulting service with the addition of the Highvac "Vacuum Pumping Solutions" team, which boasts a combined 50 years of Gas Abatement and Vacuum Equipment experience. With new, increasingly strict, environmental regulations such as the "Greenhouse" law (AB32), many companies in the Semiconductor, LED, Solar and other industries are closely examining ways to increase the effectiveness and efficiency of their current abatement systems. There is little doubt environmental control will play a major role in these industries in the years ahead, and to assist companies in making the transition to cleaner, more efficient manufacturing technologies Steed will offer Green consulting and solutions services to help companies dramatically reduce emissions of gasses such as Perfluorocarbons (PFCs), Oxides of Nitrogen (NOx), and Carbon dioxide (CO2). Steed's Green Consulting provides a fast-track to compliance for companies struggling to comply with local and federal laws, while offering significant savings through the reduction of consumed utilities such as fuel and water.

"This is certainly a win-win for both Steed and Highvac, and even more so for our existing and prospective customers," said Gerry Catalano, President and CEO of Steed Technology. "The companies we serve face steep and complex challenges when forced to work with separate vendors to piece together environmentally responsible solutions to the toxic and harmful exhaust created in their manufacturing process, while at the same time trying increase machine up-time. High tech companies will face tougher standards in the future and will need advanced vacuum and abatement equipment to be in compliance with regulations and provide the maximum up-time."

"With this merger, we look forward to the new capabilities we can bring to our customers through expanding our scope of supply with the EcoGuard Abatement system. Vacuum Pumps and PoU Abatement are a perfect product mix, and Steed's products are a direct extension that adds considerable value to the core products and services that we have offered to our customers for the past 18 years. Additionally, the added scope enables us to expand into geographical regions and bring Highvac's proven model of being a 'Local Vendor' to our new customers," says John Catalano President and CEO of Highvac Corp.

About Steed Technology

Steed Technology is a leading provider of thermal processing equipment and environmentally responsible "Point of Use" (PoU) gas abatement solutions for the Semiconductor, LCD and Solar Industries. Our valued customers, who include the biggest names in these industries, rely on Steed to deliver best-in-class technology for their manufacturing processes. With over 50 years of combined experience in the IC process industries, Steed prides itself on delivering products of unsurpassed quality, and providing advanced levels of service and support. www.steedtech.com.

About Highvac Corp.

Highvac is a long established provider of vacuum pumps and service for the Semiconductor, LED and Solar industries. A portion of the company's success is directly related providing effective vacuum pumping solutions to its customer base. Started in Colorado Springs, CO., USA , with an initial charter to provide local service to the Semiconductor Fabs in Colorado. In order to service customers in these critical industries in a more responsive "local" manner, Highvac expanded in the late 90s with the establishment of local support centers in strategic areas of the USA. As an ISO 9000 registered company, delivering quality products and services to its customers is the ultimate key to Highvac's long term success. www.highvacpumps.com.

SOURCE Steed Technology