|Exchange:||NASDAQ national market|
|Stock:||Advanced Energy Industries, Inc.|
|Advanced Energy Industries, Inc. was incorporated in Colorado in 1981 and reincorporated in Delaware in 1995. The Company designs, manufactures, sells and supports industrial power conversion products that transform power into various usable forms. Its products enable manufacturing processes that use thin-film deposition for various products, such as semiconductor devices, flat panel displays, solar panels, and architectural glass. The Company also supplies thermal instrumentation products for advanced temperature control in the thin-film process for these same markets. Its solar inverter products support renewable power generation solutions for residential, commercial, and utility-scale solar projects and installations. The Company’s network of global service support centers provides a recurring revenue opportunity. The Company also offers a wide variety of operations and maintenance service plans that can be tailored for individual photovoltaic ("PV") sites of all sizes. Its products are designed to enable new process technologies, improve productivity, and lower the cost of ownership for its customers. The Company also provides repair and maintenance services for all of its products. The combination of PV Powered’s solar inverter product line with the Company’s Solaron inverter product line resulted in revenue growth, both in absolute dollars and as a percentage of its overall revenue. Serving the inverter market has proven to require management, marketing, sales, and engineering efforts that are unique from those of the Company’s traditional thin-film capital equipment market. The Company has two business units, Thin Films Deposition Power Conversion and Thermal Instrumentation and Solar Energy. The Thin Films business unit principally serves original equipment manufacturers ("OEM") and end customers in the semiconductor, flat panel display, solar panel, and other capital equipment markets. The Solar Energy business unit focuses on residential, commercial, and utility-scale solar projects and installations selling primarily to distributors, Engineering, Procurement, and Construction contractors ("EPC"s ), developers, and utility companies. The Company’s products compete in markets for high tech manufacturing capital equipment and renewable energy production. The inverter market has lower volume sales during the winter months due to reduced ability to install products. The Company sells residential, commercial, and utility-grade solar inverters to distributors, contractors, developers, and utility companies who integrate its inverter products into solar array installations. Its products are sold worldwide to approximately 460 OEMs and integrators and directly to more than 1,450 end users. The Company sells its products primarily through direct sales personnel to customers in North America, Europe, and Asia. The Company’s sales personnel are located in the United States, Canada, the PRC, Great Britian, Germany, Japan, South Korea, and Taiwan. The markets it serves are highly competitive and characterized by rapid technological development and changing customer requirements. The Company’s competitors include: MKS Instruments, Inc., Comdel, Inc., Daihen Corporation, Kyosan Electric Mfg. Co., Ltd., Hüttinger Elektronik GmbH, Comet Holding AG, New Plasma Products, etc.|
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