News

11 September 2008

 

Lam launches $250m share repurchase program

The board of directors of etch and wafer-cleaning equipment maker Lam Research Corp of Fremont, CA, USA has authorized the repurchase of up to $250m of the firm’s common stock, either from the public market or in private purchases.

The program may be suspended or discontinued at any time, and will be funded using available cash. As of 29 June, Lam had about $1.2bn in total gross cash and cash equivalents, short-term investments and restricted cash and investments and about 125m shares outstanding.

The program reflects the confidence of both the management and the board in the firm’s long-term growth prospects, says president and CEO Steve Newberry. “A stock buyback is an effective use of our available capital at this time, and provides the potential for increased returns to our shareholders over the long term,” he adds.

Lam opens Advanced Global Training Center in Taiwan

At the end of August, with the support of the Taiwan Government, Lam opened an Advanced Global Training Center in Hsinchu, Taiwan. The firm says that the training programs that are offered will help customers speed the ramp to production on new Lam process tools and enhance the productivity of their existing systems. The programs also aim to advance the technical capabilities and competitiveness of Taiwan’s local supply chain.

Lam says that, to facilitate training, the new facility is near to core centers of semiconductor technology development and manufacturing. Courses will be taught in both English and the local language to enhance effectiveness.

To enable both 200mm and 300mm hands-on training, the 3600-plus square foot facility is equipped with 2300 and Alliance-based systems. Additional equipment will be installed as demand for training grows. The center’s process and analysis courses are designed to train customers on proven procedures known to improve the productivity of Lam equipment. Training is being conducted both by locally based Lam personnel and visiting instructors from Fremont.

Localized training not only saves customers the time and expense of travel, but also facilitates more comprehensive training, says Daniel Liao, group vice president, Asia Pacific. “This is a significant benefit that is realized in the faster resolution of process and equipment issues and fewer escalations for supplier support. When customers better understand their process equipment, they can achieve the high productivity for which our equipment is designed,” he adds. “This new training center will enhance support to customers in all regions, in particular, in the expanding Asia Pacific market.”

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