AXT Appoints GEO Semiconductor Sole Distributor for All of Europe
FREMONT, Calif., Dec. 20 /PRNewswire-FirstCall/ -- AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound semiconductor substrates, today announced that it has entered into an agreement with GEO Semiconductor to be its new exclusive distributor in Europe.
In addition, ten year compound semiconductor industry veteran, John Lockley, former European Sales Manager for Veeco MBE products, has announced that he will join GEO Semiconductor, effective Jan. 15, 2006. GEO Semiconductor has appointed Lockley to be account manager and handle all European sales for AXT. AXT's senior sales director, Bob Ochrym, will work closely with Lockley and GEO Semiconductor's European sales manager Ralph Hananel to consolidate AXT's sales efforts to better serve all of its customers in Europe.
"We are very pleased to have John Lockley represent us through our exclusive distributor, GEO Semiconductor," said John J. Cerilli, vice president of global sales and marketing. "With this new distributor relationship, our goal for 2006 and beyond is to provide one focal point for sales and to further improve our customer service for all our valued European customers."
"Europe represents a very important and growing market for AXT," said Phil Yin, chief executive officer. "The appointment of GEO Semiconductor further demonstrates our serious commitment to our customers in that segment. In addition, AXT will continue to analyze and improve our sales, service and customer support as required to better serve our customers worldwide."
About AXT, Inc.
AXT is a leading producer of high-performance compound semiconductor substrates for the fiber optics and communications industries. The company's proprietary Vertical Gradient freeze (VGF) crystal growth technology produces low-defect, semi-insulating and semi-conducting gallium arsenide, indium phosphide and germanium wafers. For more information, see AXT's website at http://www.axt.com . The company can also be reached at 4281 Technology Drive, Fremont, California 94538 or by calling 510-683-5900. AXT is traded on the Nasdaq National Market under the symbol AXTI.
Safe Harbor Statement
The foregoing paragraphs contain forward-looking statements within the meaning of the Federal Securities laws, including statements related to our improvement in European sales, service and customer support. 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 that 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. Such uncertainties and factors include: our ability to increase sales and market share and maintain product quality improvements, our ability to recruit new qualified staff, overall conditions in the markets in which we compete and competitive pressures, including pricing pressures, within those markets, market acceptance and demand for our products, and other factors as set forth in the company's Form 10-K and other filings made with the Securities and Exchange Commission, all of which are difficult to predict and some of which are beyond the company's control. The company does not undertake any obligation to update publicly any forward-looking statement, either as a result of new information, future events or otherwise.
SOURCE AXT, Inc.
CONTACT: Wilson W. Cheung, Chief Financial Officer of AXT, Inc., +1-510-683-5900; or Leslie Green of Stapleton Communications, +1-650-470-0200, for AXT, Inc.
Web site: http://www.axt.com
12/20/2005 09:30 EST http://www.prnewswire.com