EXHIBIT 99.1
[IBIS GRAPHIC][LOGO]
NEWS RELEASE
COMPANY CONTACTS: AGENCY CONTACT:
Debra L. Nelson Al Alioto Bill Monigle
Chief Financial Officer V.P. Sales & Marketing IR/PR Counsel
Ibis Technology Corporation Ibis Technology Corporation For Ibis Technology
Phone: (978) 777-4247 Phone: (978) 777-4247 or Phone: (603) 424-1184
(831) 662 9100
FOR RELEASE WEDNESDAY, OCTOBER 17, 2001, 8:00 A.M. EDT
IBIS TECHNOLOGY RECEIVES ORDER FOR OXYGEN IMPLANTER FROM
SHANGHAI INSTITUTE OF METALLURGY
DANVERS, Mass, Oct. 17, 2001--Ibis Technology Corporation (Nasdaq: IBIS), the
leading provider of SIMOX-SOI implantation equipment and wafers to the worldwide
semiconductor industry, today announced that it has received an order for an
Ibis 1000 oxygen implanter, including spare parts and other options, from the
Shanghai Institute of Metallurgy (SIM), Chinese Academy of Sciences. The system
will be used by the Shanghai Simgui Technology Co., Ltd. (STC), a company formed
by SIM and others, to manufacture SIMOX-SOI wafers in Shanghai, China, for
chipmakers serving the growing Chinese consumer electronics market.
"The Ibis 1000 implanter provides what we believe to be the most cost-effective
way to produce high-quality SOI wafers," said Mr. Li Shou-Chen, vice director of
the Shanghai Institute of Metallurgy, Chinese Academy of Sciences and Chairman
of the Board of Directors of STC. "With the Chinese semiconductor industry
growing rapidly, especially in the production of advanced, sub-micron chips,
there is a real need for the performance advantages offered by SIMOX-SOI wafers.
ICs built on SOI wafers offer the speed and energy efficiency needed for the
most advanced electronic products."
Martin J. Reid, president and chief executive officer of Ibis Technology said,
"The Shanghai Institute of Metallurgy is widely recognized for the role they
have played in the development of advanced semiconductor technology, including
significant research and development in the field of silicon-on-insulator
wafers. We are pleased that they selected our Ibis 1000 implanter for their SOI
production program."
"Despite the slowdown affecting the global semiconductor industry, China's chip
industry continues to grow. China is now the fastest growing semiconductor
consuming market in the world, according to Cahners In-Stat group, and although
the $1.5 billion Chinese semiconductor industry supplies only 20 percent of the
nation's OEM chip demands, a State-sponsored chip
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Ibis Receives Order for Implanter from Shanghai Institute of Metallurgy......
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roadmap calls for the migration to deep sub-micron production capabilities. We
are pleased to be able to participate in this growth and demonstrate our
commitment to ensuring wide-spread availability of SIMOX-SOI," added Reid.
According to Reid, Ibis expects to ship the implanter late this year, but
revenue from the sale will not be recognized until next year. "SIM is building a
new facility to house and support this implanter, and it's likely that
installation and acceptance of the system will not take place until perhaps the
second quarter of 2002," said Reid.
ABOUT SIMOX-SOI
Silicon-on-Insulator (SOI) is a manufacturing technology where an insulating
layer is created in a silicon wafer, isolating the top layer of silicon where
the active transistors will be manufactured from the rest of the bulk silicon
wafer. The buried oxide layer acts as a barrier to reduce electrical leakage
from the transistors, resulting in semiconductor devices that are faster and
more power efficient. These benefits make SOI a valuable technology for
chipmakers producing IC's for high performance or low power applications such as
servers and workstations, portable and desktop computers, wireless communication
devices, integrated optical components and automotive electronics.
Separation-by-Implantation-of-Oxygen (SIMOX) refers to a technique used by Ibis
for manufacturing SOI wafers where an oxygen implanter is used to create a very
thin insulating layer within the wafer, just below a thin layer of silicon on
the top of the wafer. Compared to competing technologies, the SIMOX process
offers high quality SOI wafers at competitive costs in production quantities.
ABOUT IBIS TECHNOLOGY
Ibis Technology Corporation is the leading provider of SIMOX-SOI
(Separation-by-Implantation-of-Oxygen Silicon-On-Insulator) wafers and equipment
for the worldwide semiconductor industry. The company is headquartered in
Danvers, Massachusetts and maintains an office in Aptos, California. Ibis
Technology is traded on the Nasdaq National Market under the symbol IBIS.
Information about Ibis Technology Corporation and SIMOX-SOI is available on
Ibis' World Wide Web site at www.ibis.com.
ABOUT SHANGHAI INSTITUTE OF METALLURGY, CHINESE ACADEMY OF SCIENCES
The Shanghai Institute of Metallurgy, Chinese Academy of Sciences is a research
institute, which has focused its research efforts on furthering the national
economic development of China. Its current research activities are concentrated
in the fields of electronic sciences and technology, material sciences and
engineering and its targeted goals include new materials, devices and technology
related to the areas of information and energy.
ABOUT SHANGHAI SIMGUI TECHNOLOGY CO., LTD.
The Shanghai Simgui Technology Co., Ltd. was co-founded in 2001 by Shanghai
Institute of Metallurgy and other investors, based on a directorate system,
specifically to manufacture and sell SIMOX-SOI wafers to producers of
semiconductor devices for ultimate use in the consumer industry. STC's initial
target market consists of manufacturers of communication semiconductor devices
for the growing Chinese market. The company is located in Jiading District,
Shanghai.
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"SAFE HARBOR" STATEMENT: This release may contain forward-looking statements
that are subject to certain risks and uncertainties including statements
regarding the Shanghai Simgui Technology Co., Ltd.'s use of the system and the
Company's schedule to ship the implanter and recognize revenue from this sale.
Such statements are based upon management's current expectations that are
subject to risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking statements,
including, but not limited to, product demand and market acceptance risks,
general economic conditions, the impact of competitive products, technologies
and pricing, the impact of rapidly changing technology, equipment capacity and
supply constraints or difficulties, limitations on the ability to protect the
Company's patents and proprietary technology, the Company's limited history with
regard to sales of implanters, the cyclical nature of the semiconductor
industry, and other risks described in the Company's Securities and Exchange
Commission filings. All information set forth in this press release is as of
October 17, 2001, and Ibis undertakes no duty to update this information unless
required by law. This press release does not constitute a change from the
executed contracts.
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