RONKONKOMA, N.Y., May 13 /PRNewswire-FirstCall/ -- On May 13, 2005, CVD
Equipment Corporation (CVD) (http://www.cvdequipment.com ) signed a contract
with First Nano, Inc., of Carpinteria, CA (http://www.firstnano.com ) to
purchase certain assets of their Nanotechnology process development and
equipment business. First Nano develops solutions for single and multiwall
nanotube and nanowire synthesis and manufactures chemical vapor deposition
process equipment suitable for the synthesis of a variety of carbon nanotubes,
one-dimensional nanostructures and nanomaterials.
Len Rosenbaum, President & CEO states "We, at CVD, are looking forward to
the addition of First Nano products and process knowledge to our Company. The
purchase of First Nano strengthens CVD's position in the Carbon Nanotube
Synthesis Research & Development sector. The First Nano brand further expands
our market exposure in the Nanotechnology market, a sector we have targeted
for sales growth in our front end products."
Cary Chee, President of First Nano comments "We are pleased to become part
of a company with a strong background and broad experience in chemical vapor
deposition process equipment. We believe CVD's manufacturing and technological
expertise, along with First Nano's focus on nanotechnology material synthesis
will enable both our companies to realize greater market potential beyond
simply research and development."
CVD Equipment Corporation (Amex: CVV), is a leading manufacturer of
critical LPCVD, UHVCVD, HVPE, MOCVD, PECVD, LPE, VPE, ALD, Reel-to-Reel,
Fluidized Bed and RTP products and services for the Semiconductor, Compound
Semiconductor, Optoelectronic, Wireless Telecommunications, MEMS,
Nanotechnology, Solar Power, Super Conductivity and industrial markets.
First Nano, Inc. was established in May 2003, to develop and manufacture
process equipment uniquely suited to nanotechnology applications. Founded by
Dr. Virgil Elings, founder of Digital Instruments, Dennis Adderton, formerly
of NanoDevices and Digital Instruments, Dr. Stephen Minne of Stanford
University and formerly President of NanoDevices, and Cary Chee, formerly of
FEI Company and Veeco Instruments, First Nano manufactures turnkey process
equipment for the synthesis of a variety of one-dimensional nanostructures and
materials.
This public announcement may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from historical results or anticipated
results. Investors and potential investors should review carefully the
description of the risks and uncertainties which, together with other detailed
information about CVD Equipment Corporation (CVD), is contained in the
periodic reports that CVD files from time to time with Securities and Exchange
Commission.
The risks and uncertainties include, but are not limited to: the ability
to successfully integrate acquired assets into CVD Equipment Corporation;
CVD's dependence upon the ability to attract and retain qualified personnel;
competition and technological changes; the company's dependence upon
proprietary technology and the potential need for additional financing.
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