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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 12, 1998
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Ibis Technology Corporation
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(Exact name of registrant as specified in its charter)
Massachusetts 0-23150 04-2987600
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
32 Cherry Hill Drive, Danvers, Massachusetts 01923
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (978) 777-4247
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Item 5. Other Events.
On November 12, 1998, the Registrant publicly disseminated a press
release announcing that Leslie B. Lewis and Lamberto Raffaelli, Ph.D. have been
elected to its Board of Directors.
Mr. Lewis is Chairman, President and Chief Executive Officer of
Asahi/America, Inc., a public company which designs, manufactures and
distributes thermoplastic valves, actuators and controls, piping systems, flow
meters, filtration systems and related components for environmentally sensitive
and semiconductor fab applications. He was appointed President and Chief
Operating Officer in 1985, Chief Executive Officer in 1989, and Chairman of the
Board in 1996. Mr. Lewis has also been Vice Chairman and Trustee of the Lawrence
Memorial Hospital, Director of Hallmark Health Services, Director of the Japan
Society of Boston and Director of the International Association of Plastic
Distributors.
Dr. Raffaelli is founder, President and Chief Executive Officer of
ARCOM, Inc., a rapidly growing company located in Salem, New Hampshire that
designs and manufactures microwave and millimeter-wave wireless products for
digital radios and other applications using the latest state of the art very
high frequency monolithic integrated semiconductors. Prior to founding ARCOM,
Dr. Raffaelli was the Director of Commercial Products for Alpha Industries in
Woburn, Massachusetts, where he also served as Engineering Manager and
Operations Manager. At Alpha, he was responsible for the development of
commercial products centered around point-to-point radios, automotive radar
applications and wireless television.
The information contained in the press release is incorporated herein
by reference and filed as Exhibit 99.1 hereto.
Item 7. Financial Statements and Exhibits.
(c) Exhibit.
99.1 The Registrant's Press Release dated November 12, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
IBIS TECHNOLOGY CORPORATION
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(Registrant)
Date: November 13, 1998 /s/ Martin J. Reid
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Martin J. Reid, President and
Chief Executive Officer
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EXHIBIT INDEX
Exhibit Sequential
Number Description Page Number
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99.1 The Registrant's Press Release 5
dated November 12, 1998
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[logo]
CONTACT
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<S> <C>
Debra L. Nelson, Chief Financial Officer Van Negris/Philip J. Denning
Ibis Technology Corporation Kehoe, White, Van Negris & Company, Inc.
(978) 777-4247 (212) 396-0606
</TABLE>
FOR IMMEDIATE RELEASE
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IBIS TECHNOLOGY CORPORATION ELECTS
LESLIE B. LEWIS AND LAMBERTO RAFFAELLI TO THE BOARD OF DIRECTORS
DANVERS, MA--November 12, 1998--Ibis Technology Corporation (NASDAQ:IBIS),
the leading manufacturer of Ibis 1000 high current oxygen implanters and
supplier of SIMOX-SOI (Separation by Implantation of
Oxygen/Silicon-on-Insulator) wafers to the semiconductor industry, today
announced that Leslie B. Lewis and Lamberto Raffaelli, Ph.D. have been
elected to the Board of Directors.
Mr. Leslie B. Lewis, 58, is Chairman, President, and Chief Executive Officer
of Asahi/America, Inc. (Nasdaq: ASAM) which designs, manufactures and
distributes thermoplastic valves, actuators and controls, piping systems,
flow meters, filtration systems and related components for environmentally
sensitive and semiconductor fab applications. He was appointed President and
Chief Operating Officer in 1985, Chief Executive Officer in 1989, and
Chairman of the Board of Directors in 1996, following the company's initial
public offering. Mr. Lewis has been Vice Chairman and Trustee of the Lawrence
Memorial Hospital, Director of Hallmark Health Services, Director of the
Japan Society of Boston and Director of the International Association of
Plastic Distributors.
Dr. Lamberto Raffaelli, 48, is Founder, President and Chief Executive Officer
of ARCOM, Inc., Salem, New Hampshire, a rapidly growing company that designs
and manufactures microwave and millimeter-wave wireless products for digital
radios and other applications using the latest state of the art very high
frequency monolithic integrated semiconductors. Prior to founding ARCOM, Dr.
Raffaelli was the Director of Commercial Products for Alpha Industries in
Woburn, Massachusetts, where he also served as Engineering Manager and
Operations Manager. At Alpha, he was responsible for the development of
commercial products centered around point-to-point radios, automotive radar
applications and wireless television.
Martin J. Reid, President and Chief Executive Officer of Ibis Technology
stated, "The addition of Leslie B. Lewis and Lamberto Raffaelli brings
exceptionally strong business experience to our board process. We welcome
their singular understanding of the strategic and business challenges faced
by our Company as we make progress toward establishing Ibis as the world's
leading supplier of SIMOX-SOI wafers and implanters to the semiconductor
industry.
"Recent leading edge advances in semiconductor technology based on Ibis'
SIMOX-SOI by IBM and others reflect the growing acceptance of our SIMOX-SOI
wafers and implanters by the semiconductor industry. Thus, we believe that
the commercial phase is beginning and will grow over the next two years.
-more-
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Ibis Technology Corporation
November 12, 1998
Page Two
"A key factor in Ibis' ultimate success will be our ability to quickly
respond to evolving industry needs. Internally, we are continuing to make
strategic investments in personnel, customer service, research and
development and increased manufacturing capabilities for both implanters and
wafers, as well as continuing the pace of our new product development.
"We regard the guidance of our exceptional Board of Directors as vital to our
ultimate success in this challenging industry segment. We are very pleased to
welcome Leslie and Lamberto to our Board. We believe that their wealth of
knowledge and extensive experience in growing high technology companies will
be especially valuable to Ibis going forward."
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this press release which are not historical
fact are forward-looking statements based upon management's current
expectations that are subject to risks and uncertainties that could cause
actual results to differ materially from those set forth in or implied by
forward-looking statements, including, but not limited to, product demand and
market acceptance risks, general economic conditions, the impact of
competitive products, technologies and pricing, equipment capacity and supply
constraints or difficulties, the cyclical nature of the semiconductor
industry, and other risks described in the Company's Securities and Exchange
Commission filings.
Ibis Technology Corporation is an advanced materials company which
manufactures Ibis 1000 high current oxygen implanters and supplies SIMOX-SOI
wafers to the semiconductor industry. SIMOX-SOI wafers are
silicon-on-insulator wafers which enable the production of integrated
circuits with significant advantages over circuits constructed on bulk
silicon or epitaxial wafers. The Company produces SIMOX-SOI wafers on
advanced proprietary Ibis 1000 oxygen implantation equipment, utilizing
proprietary processing technologies which the Company believes will enable it
to produce SIMOX-SOI wafers for demanding high volume commercial applications.
NOTE: Information about Ibis Technology Corporation and SIMOX-SOI is
available on Ibis's World Wide Web site on the Internet located at:
http://www.ibis.com
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