IRVINE, Calif., Jan. 16, 2002 (PRIMEZONE) -- Newport Corporation (Nasdaq:NEWP) today announced the appointment of Kevin T. Crofton to the position of vice president and general manager of Newport's Fiber Optics & Photonics Division. He will report directly to Robert G. Deuster, president and chief executive officer.
Crofton, 40, most recently served as general manager of Fremont, California-based LAM Research Corporation's (Nasdaq:LRCX) Chemical Mechanical Planarization (CMP)/Clean Products Group, where he managed the market launch and initial customer penetration strategy for the company's entry into the CMP marketplace, and then directed the development and launch of the company's second generation CMP/Clean product line.
Deuster said, "In Kevin Crofton we have an exceptional senior executive who has a strong background and proven track record in semiconductor capital equipment business management, engineering and manufacturing. This expertise has become increasingly important for us as the fiber optic component manufacturers we serve look to learn from the experiences of the semiconductor industry, especially in terms of yield improvement and automation.
"Kevin's background fits in well with our overall strategy as a capital equipment supplier to the fiber optic communications marketplace. He will have full responsibility for all aspects of Newport's global business as it relates to the fiber optic test, measurement and assembly automation markets. We are excited to have Kevin's strong combination of leadership and technical experience and are confident in his ability to fill this critical role for Newport," Deuster said.
Prior to joining LAM, Crofton served as program manager for advanced product development at the Chemical Systems Division of United Technologies, a subsidiary of Pratt & Whitney in San Jose, California. He began his career with the U.S. Department of Defense as a project engineer for tactical systems and progressed to manager of the Design Agent Branch. Crofton received an MBA in International Business from American University, Washington, D.C. and a Bachelor of Science degree in Engineering from Virginia Tech University in Blacksburg, Virginia.
Newport Corporation is a global leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, aerospace, research and industrial metrology markets. The company's innovative products are designed to enhance productivity and capabilities in test and measurement and automated assembly for precision manufacturing, engineering and research applications. Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide. Newport is part of the Standard & Poor's Midcap 400 Index.
This news release contains forward-looking statements that are based on current expectations and involve risks and uncertainties. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. As discussed in Newport's Annual Report on Form 10-K for the year ended December 31, 2000 and its subsequent SEC reports, assumptions relating to the foregoing involve judgments and risks with respect to, among other things, future economic conditions, the ability of the company to obtain patents on its technology, competitive and market conditions, including those in Europe and Asia and those related to its strategic markets, whether its products, particularly those targeting the company's strategic markets, will continue to achieve customer acceptance, the risks of power interruptions and electricity rate increases and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Newport. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport's objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.