Veeco, a leading LED equipment provider, hosted a grand ceremony to celebrate the opening of its new Shanghai office on November 5th. Major upstream LED companies, including Taiwan’s Formosa Epitaxy Inc., HUGA Optotech Inc., Genesis Photonics Inc., GaN Epi, Inc., Crystal Applied Technology Inc., and mainland China-based SANAN Optoelectronics Co., Ltd., Epilight Technology Co., Ltd., Huaguang Optoelectronics Co., Ltd., Shenzhen Century Epitech LEDs Co., Ltd. and Dalian Luminglight Co., Ltd. all attended the ceremony. As production equipment determines the development direction of LED technology, and the demand for MOCVD equipment in China is expected to grow significantly in 2010, equipment providers and LED manufacturers hope to form a closer relationship.

At the ceremony, Veeco’s CEO John R Peeler indicated that the company’s third quarter performance exceeded the guidance, with 3Q09 orders of approximately $226 million, (LED & Solar accounts for approximately $179 million.) Sales in China and Taiwan exceeded $100 million. Peeler added that the high booking in Q3 was due to the growth of more than 100% in LED backlighting market and over 40% growth in LED lighting applications.

Justin K. Wang, Veeco’s general manager in Greater China, noted that Veeco is now aggressively exploring the market in China and is optimistic about sales growth of MOCVD equipment in 2010. According to the the company, Veeco completed the highest bookings quarter in its history, with demand mainly from LED manufacturers in China, Taiwan and S. Korea, who had purchased Veeco’s TurboDisc MOCVD equipment to ramp up and expand their manufacturing capacities.

Veeco’s 4Q09 revenues are currently forecasted to be between $120-$130 million, with earnings per share between $0.29 and $0.35 on a non-GAAP basis, above analyst expectations. Veeco’s 2009 revenue guidance is now $353-$363 million, up from previous guidance of $310-$325 million.

Veeco’s vice president Peter Collingwood further noted that the new office will be commited to the growing green energy market, and the company will also strengthen its scientific research. The testing lab area in the new facility has been expanded to 3 times its previous size.

Veeco employs over 1000 staff worldwide and more than 60 in the Greater China area. Veeco’s branch company in Shanghai is listed as ‘Veeco Precision Instrument Global Trading Corporation (Shanghai) Ltd.’ The new office is located at R505, Floor 7, 1008, Xin Jinqiao Road., Pudong District, Shanghai.