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Eaton to begin manufacturing semiconductor equipment in South Korea
CLEVELAND, OH...Eaton Corporation announced today that it will begin manufacturing semiconductor production equipment for the South Korean market in a 45,000 square foot facility in Kyunggi-do, 60 miles south of Seoul, South Korea.
Eaton said today's announcement is representative of the company's new growth initiative, and that it is consistent with its commitment to operate as a fully global organization strategically aligned with its customers worldwide. The ion implantation equipment to be manufactured in the plant will serve the South Korean market exclusively. Korea represents the third largest equipment market worldwide, with 1995 semiconductor sales of $16 billion.
The facility will become part of Eaton's Semiconductor Equipment Operations (SEO), headquartered in Beverly, Massachusetts, and operate as a wholly-owned subsidiary, Eaton Semiconductor Korea. The building is currently being modified to provide clean room manufacturing and applications laboratory space. The plant will ship the first Korean-built system in February, 1997, and it is expected to grow to a $100 million operation by the year 2000.
Alexander M. Cutler, Eaton President and Chief Operating Officer, said the decision to establish a manufacturing site in Korea reflects the company's commitment to grow globally. "It is indicative of the long-term confidence we have in our semiconductor equipment business and the Korean market," he said. "Our sales in this high-growth market now approach $750 million annually. With the increasing pervasiveness of semiconductor devices in today's products, as well as the promise of new product applications, such as flat panel displays, we expect our sales to grow to $1 billion in the next four years."
Peter R. Younger, SEO Vice President, said, "With a manufacturing plant located in Korea, we will be better able to respond to the needs of our Korean customers and strengthen our overall support of the Korean semiconductor industry. We will now be able to leverage our unique 'modular build' approach to assemble and test products in Korea. This initial plan will be followed by local engineering, training and sourcing."
SEO's list of customers in Korea includes Hyundai, LG Semicon and Samsung.
In addition to Eaton Semiconductor Korea, SEO is a partner with Sumitomo Heavy Industries in Japan, where the joint venture, Sumitomo Eaton Nova, designs, manufactures and markets ion implantation equipment for Japanese device manufacturers.
With manufacturing facilities in Beverly and Austin, Texas, SEO is a worldwide leader in the development of ion implantation products and services, delivering the only complete line of high current, medium current and high energy ion implantation systems to semiconductor device manufacturers worldwide. On May 28, Eaton announced the acquisition of High Temperature Engineering Corporation (HTE) of Peabody, Massachusetts, a manufacturer of rapid thermal processors and small batch vertical furnaces for use in the production of semiconductor wafers.
Eaton Corporation is a global manufacturer of highly engineered products which serve vehicle, industrial, construction, commercial and aerospace markets. Principal products include truck transmissions and axles, engine components, hydraulic products, electrical power distribution and control equipment, ion implanters and a wide variety of controls. Headquartered in Cleveland, the company has 54,000 employees and 155 manufacturing sites in 26 countries around the world. Sales for 1995 were $6.8 billion.