Yield Engineering Systems, Inc. (YES) announced that Michael Daly has joined the company as its Senior Vice President and General Manager of Wet Processing Systems.
Mr. Daly assumes overall responsibility for enhancing the market share and profitability of YES’s rapidly growing Wet Processing business unit and will manage its existing product lines as well as new product development. Mr. Daly has extensive experience in high-tech & wide band gap semiconductors, with executive-level assignments at Wolfspeed/Cree, Global Foundries, SunEdison Semiconductors, and National Semiconductor.
“Michael is a seasoned, operations-driven executive with tremendous experience in delivering cutting-edge technology in High-Volume Manufacturing Semiconductor environments and is a consummate professional delivering outstanding results,” said Rama Alapati, CEO of YES. “His immense understanding of customer needs and continuous improvement — combined with his impressive history of managing global operations, engineering, manufacturing, and product development for growth — will serve YES well as we continue to deliver the highest-value solutions for our key accounts and global customer base.”
Michael holds a Bachelor Of Science in Applied Chemistry from the University of Strathclyde in Glasgow, Scotland.
Original – Yield Engineering Systems
Vishay Intertechnology announced results for the fiscal third quarter ended September 30, 2023.
- 3Q 2023 revenues of $853.7 million
- 3Q 2023 EPS of $0.47; adjusted EPS of $0.60
- 3Q 2023 book-to-bill of 0.63
- Backlog at quarter end was 5.5 months
- Returned a total of $31.1 million to stockholders
“During the third quarter, as expected, revenue decreased from the second quarter on inventory adjustments by our distribution and EMS customers in response to softened demand in industrial markets and contracting lead times. Nevertheless, we once again intentionally increased inventory with our distribution partners as we continued to execute our strategy of broadening our participation in this higher margin channel.
The capacity readiness activities we have underway are increasing our value to the distribution channel and reliably supporting our accelerating design activities related to the megatrends of e-mobility, sustainability and connectivity,” said Joel Smejkal, President and Chief Executive Officer. “In addition, as announced separately today, we have signed a purchase agreement to acquire Newport wafer fab which will accelerate our plan to scale manufacturing and advance the technology differentiation of our silicon carbide MOSFETs.”
4Q 2023 Outlook
For the fourth quarter of 2023, management expects revenues in the range of $770 million and $810 million and a gross profit margin in the range of 25.5% +/- 50 basis points.
Original – Vishay Intertechnology
Vishay Intertechnology, Inc. and Nexperia B.V. announced that they have entered into an agreement that Vishay will acquire Nexperia’s wafer fabrication facility and operations located in Newport, South Wales, U.K. for $177million in cash. ATREG, Inc., the Seattle-based premier global firm for initiating, brokering, and executing the exchange of semiconductor manufacturing assets, served as Nexperia’s transaction advisors.
Newport wafer fab, located on 28 acres, is an automotive certified, 200mm semiconductor wafer fab that supplies primarily automotive markets. It is the largest semiconductor manufacturer in the U.K.
Toni Versluijs, Country Manager Nexperia UK, stated: “Nexperia would have preferred to continue the long-term strategy it implemented when it acquired the investment-starved fab in 2021 and provided for massive investments in equipment and personnel. However, these investment plans have been cut short by the unexpected and wrongful divestment order made by the UK Government in November 2022.
The site needs clarity about its future to avoid further losses, and today’s announcement provides this. Of all options, this agreement with Vishay is the most viable one to secure the future of the site as Vishay – like Nexperia – has a solid customer base for the fab’s capabilities. For the site, Vishay’s commitment to further make the Newport wafer fab a success story is encouraging. Nexperia’s position with regards to the UK Government’s order remains unchanged.”
The closing of Newport wafer fab transaction is subject to UK government review, the purchase rights of a third party, and customary closing conditions, and is expected to occur in the first quarter of 2024.
Nexperia’s priority always remains with our employees and our customers. Whilst we work on ensuring that all conditions to the sale are met soonest, we will continue to own and manage the site and support the employees as usual.
Original – Nexperia