IQE Regulatory News (IQE)

28 Sep 2007 10:14

IQE PLC28 September 2007 28 September 2007 IQE plc IQE to team with Raytheon as part of $6.5m US government contract win. IQE plc (AIM: IQE), the UK-based leading outsource supplier of advanced wafersand outsource wafer services to the global semiconductor industry , announcesthat its Pennsylvania based manufacturing facility is to be part of a team ledby US defense contractor Raytheon, to integrate high-performance compoundsemiconductors with low-cost commercial complementary metal oxide semiconductorsilicon (CMOS) wafers. This will achieve superior cost-benefit performancecompared with either technology on its own. Raytheon (NYSE: RTN) announced yesterday that it had been awarded a $6.5 millioncontract to develop affordable, high-performance semiconductor integratedcircuits for electronic-driven military systems. The US Defense AdvancedResearch Projects Agency (DARPA) is funding the contract as part of its CompoundSemiconductor Materials on Silicon (COSMOS) program. Dr. Katherine Herrick, Raytheon Integrated Defense Systems (IDS) program managercommented: "The objective is to develop a high-resolution analog-to-digital converter withlow power consumption. However, the benefits of the program go significantlybeyond the specific objective. The processes lead to advanced low-cost analogand digital, microwave and millimeter-wave integrated circuits with applicationsfor next-generation radar, communications and electronic warfare systems." Mark Russell, vice president, IDS Engineering. "Our team's process of directly growing a compound semiconductor on a uniquelyengineered silicon substrate provides a new technical approach that is creatinga class of integrated circuits that will enable more affordable systems for thewarfighter. Steve Gergar, IQE's Vice President and General Manager in Bethlehem PA said: "IQE has enjoyed a long relationship with Raytheon and is pleased to be part ofthe team to share in this latest US government funded program. IQE's role inthis important project demonstrates our reputation for expertise, experience andquality in advanced semiconductor materials manufacturing processes for bothcurrent and future applications" Other partners in the COSMOS project are Raytheon Systems Limited in Glenrothes,Scotland; Teledyne Scientific Imaging Company in Thousand Oaks, Calif.;Massachusetts Institute of Technology in Cambridge, Mass.; Paradigm Research LLCin Windham, N.H.; Soitec in Grenoble, France; and Silicon Valley TechnologyCenter in San Jose, Calif. Integrated Defense Systems is Raytheon's leader in Joint Battlespace Integrationproviding affordable, integrated solutions to a broad international and domesticcustomer base, including the U.S. Missile Defense Agency, the U.S. Armed Forcesand the Department of Homeland Security. Contacts: IQE plc : www.iqep.com Drew Nelson +44 (0)29 2083 9400Phil RasmussenChris Meadows College Hill:Adrian Duffield / Ben Way +44 (0)20 7457 2020 Noble and Company :John Llewellyn-Lloyd/ Sam Reynolds + 44 (0) 20 7763 2200 NOTE TO EDITORS IQE IQE is the leading global supplier of advanced semiconductor wafers withproducts that cover a diverse range of applications, supported by an innovativeoutsourced foundry services portfolio that allows the Group to provide a 'onestop shop' for the wafer needs of the world's leading semiconductormanufacturers. IQE uses advanced crystal growth technology (epitaxy) to manufacture and supplybespoke semiconductor wafers ('epi-wafers') to the major chip manufacturingcompanies, who then use these wafers to make the chips which form the keycomponents of virtually all high technology systems. IQE is unique in being ableto supply wafers using all of the leading crystal growth technology platforms. IQE's products are found in many leading-edge consumer, communication, computingand industrial applications, including a complete range of wafer products forthe wireless industry, such as mobile handsets and wireless infrastructure,Wi-Fi, WiMAX, base stations, GPS, and satellite communications; opticalcommunications, optical storage (CD, DVD), laser optical mouse, laser printers &photocopiers, thermal imagers, leading-edge medical products, barcode, highefficiency LEDs and a variety of advanced silicon based systems. The manufacturers of these chips are increasingly seeking to outsource waferproduction to specialist foundries such as IQE in order to reduce overall wafercosts and accelerate time to market. IQE also provides bespoke R&D services to deliver customised materials forspecific applications and offers specialist technical staff to manufacture tospecification either at its own facilities or on the customer's own sites. TheGroup is also able to leverage its global purchasing volumes to reduce the costof raw materials. In this way IQE's outsourced services, provide compellingbenefits in terms of flexibility and predictability of cost, therebysignificantly reducing operating risk. IQE operates six manufacturing facilities located in Cardiff (two) and MiltonKeynes in the UK; in Bethlehem, Pennsylvania and Somerset, New Jersey in theUSA; and Singapore. The Group also has 11 sales offices located in majoreconomic centres worldwide. This information is provided by RNS The company news service from the London Stock Exchange