FREMONT, Calif., Oct. 21, 2008 (GLOBE NEWSWIRE) -- Legacy Holding, Inc. (OTCBB:LGYH) announced today that the wet process sequence designed by Legacy Systems and operated by Jing Solar of Taiwan has successfully met all manufacturing requirements and is now in high volume production.
Legacy's proprietary green chemistry drying technology processes 100 substrates in batch mode, every two minutes. The process time easily achieves the 600 substrates per hour required by the photovoltaic manufacturer. Legacy's cutting edge chemical process technology leaves each substrate it processes dry and residue free. The cost of ownership is one of the lowest in the industry and serves an immense, worldwide market. The drying technology has been developed through a four-year partnership with a leading semiconductor manufacturer in an effort to commercialize state-of-the-art technologies that improve the overall efficiency of wafer cleaning process.
The company's proprietary technology helps alleviate the bottleneck of photovoltaic manufacturers at the drying process step. While most dryers require between five and fifteen minutes to remove all traces of water, Legacy's process is complete in less than 2 minutes. The cost of the drying cycle per substrate is negligible and cost less than $0.0002/substrate. The technology is scalable to virtually any size substrate, without increasing drying time.
Commenting on today's announcement, CEO Robert Matthews commented: "Legacy is focused on introducing its suite of proprietary technologies that were developed for leading semiconductor companies to industries outside of semiconductor manufacturing. In this manner, industries such as manufacturers of photovoltaic's, light emitting diodes, and flat panel displays can benefit from the advanced cleaning and drying technologies. The fact that the process chemistries are green will also advance Legacy's agenda of providing environmentally friendly alternative processes worldwide. This is Legacy's first product introduction into the solar panel manufacturing industry and it is a hit. Moreover, the successful introduction of Legacy's other process technologies are expected to lead to significant sales growth in Legacy's business for the foreseeable future."
In response to these trends and forecasts, management feels it imperative to both increase its footprint and protect patents in this rapidly emerging region.
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About Legacy Holding Inc.
Legacy Holding Inc. provides wafer cleaning and stripping technology to the semiconductor and related industries. Under the direction of its President and CEO, Robert Matthews, Legacy has developed and patented new, breakthrough processes that employ "Green Chemistry" to produce an environmentally safe process for photoresist stripping and cleaning of any size silicon wafer. Legacy delivers its cleaning technology through its own state of the art benches that employ the latest in robotic systems, or via specially designed modules that can be integrated into existing bench technology provided by other equipment manufacturing companies. Legacy Systems has been in operations since 1989.
This press release contains forward-looking statements regarding the future results and performance of Legacy Systems and Legacy Holding, Inc., including statements regarding returning to growth and profitability, increasing share and improving market position. These forward-looking statements involve risks and uncertainties and actual results could differ materially from those predicted in any such forward-looking statements. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. The realization of any or all of these expectations is subject to a number of risks and uncertainties and it is possible that the assumptions made by management may not materialize. Statements in this press release may involve risks and uncertainties; actual results may differ from the forward-looking statements. Sentences or phrases that use such words as "believes," "anticipates," "plans," "may," "hopes," "can," "will," "expects," "is designed to," "with the intent," "potential" and others indicate forward-looking statements, but their absence does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
CONTACT: Outcast Communications Investor Relations: Keith Reinhardt 858-509-9900, ext. 213