FormFactor Opens Singapore Manufacturing Facility
March 10, 2010
New Location will Also Serve as Global Business Center
LIVERMORE, Calif. – March 10, 2010 – FormFactor, Inc. (Nasdaq: FORM) today announced the official opening of its new wafer probe card manufacturing facility and global business center in Singapore. The new manufacturing capability is targeted to reduce product cycle times, and to diversify supply of the company’s product components. FormFactor will also leverage the new site to support its global operations, and bolster its customer service and support infrastructure in the region. A celebration to mark the opening of the facility was held at the site on March 10, 2010.
To support the expansion, FormFactor expects to employ approximately 300 people in its first phase of growth over the next two years. Job growth will include design and manufacturing engineering, supply chain management, global finance positions, as well as other selected corporate and regional support functions. “With these new resources we take another step toward our goal to become a more local supplier,” said FormFactor CEO, Mario Ruscev. “We see this expansion as an important milestone in our efforts to improve responsiveness in the region and to better serve all of our customers.”
In addition to manufacturing and corporate functions, the company’s system-on-a-chip (SOC) product business unit will also make its home in the new location.
Statements in this press release that are not strictly historical in nature are forward-looking statements within the meaning of the federal securities laws, including statements regarding business momentum, demand for our products and solutions and future growth. These forward- looking statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to: the company’s ability to reduce product cycle times, and to diversify supply of the company’s product components; the company’s ability to support its global operations, and bolster its customer service and support infrastructure through its new Singapore facility; the company’s ability to become a more local supplier in the Asia region ; and the company’s continuing ability to innovate and develop and deliver the next generation of testing technology to help enable semiconductor manufacturers to lower their test costs. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in the company’s Form 10-K for the annual period ended December 26, 2009, as filed with the Securities and Exchange Commission (“SEC”), and subsequent SEC filings. Copies of the company’s SEC filings are available at http://investors.formfactor.com/edgar.cfm. The company assumes no obligation to update the information in this press release, to revise any forward-looking statements or to update the reasons actual results could differ materially and adversely from those anticipated in forward-looking statements.