AXT, Inc. Announces the Promotion of Robert Ochrym to Vice President of Business Development
FREMONT, Calif., July 10 /PRNewswire-FirstCall/ -- AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound semiconductor substrates, today announced the promotion of Robert Ochrym to vice president of business development. In this newly formed position, Ochrym will focus on enhancing AXT's joint venture operations and world wide sales efforts. He will also continue to maintain selected high level substrate customers in North America and Europe. In addition, Ochrym will explore possible investment opportunities into complementary businesses where there are product synergies with AXT's current compound substrate and raw materials product offering.
Ochrym will report directly to Phil Yin, chief executive officer with dotted line reporting responsibility to Davis Zhang, president of joint venture operations and John Cerilli, vice president of global sales and marketing.
Ochrym joined AXT in June 2005 as senior director of international sales and joint venture operations. Prior to AXT, he was national sales manager at Aixtron, Inc., where he was responsible for North American sales and marketing functions. Prior to Aixtron, Ochrym held various positions in sales and marketing, business development and product management at Uniroyal Optoelectronics, Northrop Grumman and Rhone-Poulenc. Ochrym received his undergraduate degree from Le Moyne College in Syracuse, New York. He is currently on the standards committee of SEMI for Electronic Materials (gallium arsenide).
"I am very pleased to welcome Bob to AXT's executive management team," said Yin. "Over the past year, we have focused tremendous energy into restoring and growing our customer base. The positive results are beginning to show in our continued revenue growth. Bob has played a key role in this success through his extensive knowledge of both compound semiconductor substrates and raw materials and through his longstanding positive relationships in marketplace. As we move forward, we believe that there are several areas that can yield considerable growth opportunities. First, we believe that our core business can grow substantially through continued focus on quality and customer service. Second, we believe that our raw materials business is increasingly becoming a key strategic differentiator and thus, we will expand our raw materials sales efforts and explore new investment opportunities. Finally, we will continue to explore complementary businesses to our core product line that we believe would allow us to serve the increasing demand for compound semiconductor substrates. I am very pleased to be able to leverage Bob's expertise, and the considerable talent and experience of our entire team, towards turning these opportunities into tangible results for our company, our customers and our shareholders."
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). The company's substrate products are used primarily in lighting display applications, wireless communications, and fiber optic communications. 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, particularly in optoelectronics applications. 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. 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 Global 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 growth opportunities, expanded sales opportunities and to new potential investment opportunities. 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: John J. Cerilli, Vice President, Global Sales and Marketing of AXT, Inc., +1-510-683-5900; or Leslie Green of Green Communications Consulting, LLC, +1-650-312-9060, for AXT, Inc.
Web site: http://www.axt.com
07/10/2006 10:00 EDT http://www.prnewswire.com