AXT Announces an Expansion of Its Sales Presence in Asia With the Appointment of Dr. Liming Zhu as Vice President of Sales, Asia
FREMONT, CA, Nov 08, 2010 (MARKETWIRE via COMTEX) --
AXT, Inc. (NASDAQ: AXTI), a leading manufacturer of compound semiconductor substrates, today announced that it has appointed Liming Zhu, Ph.D. vice president of sales for the Asia region. Zhu previously served as AXT's vice president of quality and quality systems for the company's manufacturing facility in Beijing, China. This appointment represents an expansion of AXT's direct, local sales presence in Asia, marking the increasing strategic importance of this geographic region.
"Liming has done a tremendous job for AXT in our quality and quality systems division and his knowledge of our products and our customers makes him a perfect fit to head up our sales efforts in this increasingly important region," said Morris Young, chief executive officer. "There is an abundance of opportunity in Asia and having a direct, local presence underscores our commitment to this region and enhances our ability to respond quickly and effectively to customer needs. We believe this expansion will help drive continued market share growth in Asia and I look forward to working with Liming in his new role."
Zhu was appointed vice president of quality and quality systems for AXT early this year after serving as director of quality and quality systems for AXT since 2007. He joined AXT in 2001 and has held various positions including senior process R&D engineer, senior project manager and product reliability manager.
Zhu earned his Ph.D. in chemical engineering from the East China Institute of Technology. He also holds a master's degree and a bachelor's degree in chemical engineering from East China Institute of Technology. He had an extensive research career prior to joining AXT and currently holds five patents.
About AXT, Inc. AXT designs, develops, manufactures and distributes high-performance compound and single element semiconductor substrates comprising gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge) through its manufacturing facilities in Beijing, China. In addition, AXT maintains its sales, administration and customer service functions at its headquarters in Fremont, California. The company's substrate products are used primarily in lighting display applications, wireless communications, fiber optic communications and solar cell. Its vertical gradient freeze (VGF) technique for manufacturing semiconductor substrates provides significant benefits over other methods and enabled AXT to become a leading manufacturer of such substrates. AXT has manufacturing facilities in China and invests in five joint ventures producing raw materials. For more information, see AXT's website at http://www.axt.com.
Safe Harbor Statement The foregoing paragraphs contain forward-looking statements within the meaning of the Federal Securities laws, including statements regarding the company's sales of germanium substrates to the Galileo Satellite Navigation program through its customer, AZUR SPACE Solar Power GmbH, as well as other satellite programs worldwide. These forward-looking statements are based upon specific assumptions that are subject to uncertainties and factors relating to the company's operations and business environment, which could cause actual results of the company to differ materially from those expressed or implied in the forward-looking statements contained in the foregoing discussion. These uncertainties and factors include but are not limited to: overall conditions in the markets in which the company competes; global financial conditions and uncertainties; market acceptance and demand for the company's products; the impact of factory closures or other events causing delays by our customers on the timing of sales of our products; and other factors as set forth in the company's annual report on Form 10-K and other filings made with the Securities and Exchange Commission. Each of these factors is difficult to predict and many are beyond the company's control. The company does not undertake any obligation to update any forward-looking statement, as a result of new information, future events or otherwise.
Raymond A. Low
Chief Financial Officer
Green Communications Consulting, LLC
SOURCE: AXT, Inc.