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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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): September 14, 1998
Ibis Technology Corporation
(Exact name of registrant as specified in its charter)
Massachusetts 0-23150 04-2987600
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
32 Cherry Hill Drive, Danvers, Massachusetts 01923
(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 September 14, 1998, the Registrant publicly disseminated a press
release announcing that it has developed a new silicon-on-insulator wafer
manufacturing process which doubles the throughput of the Ibis 1000 oxygen
implanter compared to the standard SIMOX-SOI material presently being used by
integrated circuit manufacturers. The wafer process is a new version of the
Registrant's proprietary Advantox product line, and is applicable to
state-of-the-art advanced logic circuits used in high performance computers as
well as low power portable devices. 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 September 14, 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
(Registrant)
Date: September 21, 1998 /s/ Debra L. Nelson
-------------------
Debra L. Nelson, Chief Financial Officer
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EXHIBIT INDEX
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<CAPTION>
Exhibit Sequential
Number Description Page Number
<S> <C> <C>
99.1 The Registrant's Press Release 5
dated September 14, 1998
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Exhibit 99.1
CONTACT:
Al Alioto Van Negris/Philip J. Denning
Ibis Technology Corporation Kehoe, White, Van Negris & Company, Inc.
(408) 662-9100 (212) 396-0606
FOR IMMEDIATE RELEASE
IBIS TECHNOLOGY DEVELOPS NEW LOWER COST SIMOX-SOI WAFERS;
ADVANTOX-TM- 170 DOUBLES IBIS 1000 THROUGHPUT;
MOTOROLA CONFIRMS HIGH MATERIAL QUALITY IMPROVES CIRCUIT YIELDS
DANVERS, MA -- SEPTEMBER 14, 1998 -- Ibis Technology Corporation
(NASDAQ:IBIS), the leading manufacturer of Ibis 1000 high current oxygen
implanters and supplier of SIMOX-SOI (Separation by IMplanted
OXygen / Silicon-On-Insulator) wafers to the semiconductor industry, today
announced that the company has developed a new silicon-on-insulator wafer
manufacturing process which doubles the throughput of the Ibis 1000 oxygen
implanter compared to the standard SIMOX-SOI material presently being used by
integrated circuit manufacturers. The wafer process is a new version of
Ibis' proprietary Advantox-TM- product line, and is applicable to
state-of-the-art advanced logic circuits used in high performance computers
as well as low power portable devices.
Bob Yeargain, Technical Staff Vice President of Motorola SPS, commented:
"Motorola has been working on this SOI technology since 1982 for a variety of
applications, and has seen steady improvement in the quality of SOI
materials. We began working with Ibis several years ago to evaluate and
improve the quality of SIMOX-SOI material, to reduce the cost of the wafer
manufacturing process, and to increase the available supply of SIMOX-SOI
wafers. This included Motorola funding the construction of Ibis' second Ibis
1000 oxygen implanter in 1995. The progress over the past several months in
Ibis' SIMOX-SOI material quality has been significant. We have found this
new material improves circuit yields compared to other SOI material we have
evaluated. This manufacturing technology removes a critical barrier in yield
enhancement of ULSI circuits on SIMOX SOI wafers. Lowering the cost and
improving the quality of the wafers will enable us to expand the number of
products to which SOI performance improvements can be applied."
Martin J. Reid, President and Chief Executive Officer of Ibis Technology
Corporation, stated: "The cost of SOI wafers has been consistently noted as a
limiting factor in the wider adoption of the technology. Increasing the
throughput of the Ibis 1000 oxygen implanter is a crucial element in reducing
manufacturing cost. Through cooperation with a key customer, Motorola, as
well as with our partner Mitsubishi Materials Silicon Corporation, Ibis has
been able to develop a manufacturable process which meets the quality
requirements of our customers and provides good circuit yields.
- more -
Ibis Technology Corporation 32 Cherry Hill Drive Danvers, MA 01923
Telephone (978)777-4247 or (978)777-IBIS Fax (978)777-6570
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Ibis Technology Corporation
September 14, 1998
Page Two
"The feedback from Motorola and Mitsubishi on the material quality from the
standpoint of a circuit manufacturer has been instrumental in this process
development. While this new process is the furthest along in circuit
evaluation, we do also have processes that increases the throughput of the
implanter by up to a factor of 4. The development of this material is a step
along Ibis' internal roadmap to ultimately achieving a sub-$200 8 inch
SIMOX-SOI wafer in high volumes."
"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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Ibis Technology Corporation 32 Cherry Hill Drive Danvers, MA 01923
Telephone (978)777-4247 or (978)777-IBIS Fax (978)777-6570
