Contract Win

22 Aug 2007 07:01

IQE PLC22 August 2007 22 August 2007 IQE plc IQE wins multi-year contract as preferred Epi wafer supplier to ANADIGICS Inc. IQE plc (AIM: IQE, 'The Group') is pleased to announce that its RF Business Unithas been selected by ANADIGICS Inc. to be their preferred supplier of advancedGaAs epi wafers. As part of a multi year contract, valued at approximately US$50 million over the first two years, IQE will provide a wide range of waferproducts which will be used to manufacture leading edge wireless chips for 3G,WiFi, WiMAX, broadband and set top box applications. IQE plc also today published its Interim Results for the half year ended 30 June2007 which show revenues up 80% at constant exchange rates to £26.2m and anEBITDA profit of £1.3m (H1/2006: EBITDA loss £0.8m). Dr Drew Nelson, IQE Chief Executive said: "We are extremely pleased to have been awarded this preferred supplier contractfrom one of the world's leading suppliers of advanced chips to the wirelesscommunications industry. We have been working very closely with ANADIGICS overthe last two years, to support their rapid growth plans. "This major contract award recognises the unique advantages that IQE can offeras a pure play wafer supplier, including multi site, multi platformmanufacturing, a complete product range for the wireless communicationsindustry, significant additional wafer capacity to support the rapidly growingdemands of this and other customers, and the advanced engineering support forcurrent and future product development that we can provide." Dr. Bami Bastani, President & CEO of ANADIGICS said: "We have chosen IQE as our preferred epi supplier on the basis of theirdiligent support of our rapidly growing business over the last two years, and inrecognition of their wafer production strategy which gives us confidence thatthey can fully support our aggressive growth plans over the next few years. Weare very happy to have concluded this agreement with IQE." Contacts: IQE plc : 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. ANADIGICS, Inc. ANADIGICS, Inc. (Nasdaq: ANAD - News) is a leading provider of semiconductorsolutions in the rapidly growing broadband wireless and wireline communicationsmarkets. The Company's products include power amplifiers, tuner integratedcircuits, active splitters, line amplifiers, and other components, which can besold individually or packaged as integrated radio frequency and front endmodules. This information is provided by RNS The company news service from the London Stock Exchange