|ZYGO ANNOUNCES SELECTION BY LAWRENCE LIVERMORE NATIONAL LABORATORY AS A PRIMARY OPTICS SUPPLIER FOR NATIONAL IGNITION FACILITY|
MIDDLEFIELD, CONNECTICUT (May 9, 1997)........Zygo Corporation (NASDAQ:ZIGO) announced today that The University of California's Lawrence Livermore National Laboratory (LLNL) has entered into a contract with the Company whereby the Company will be a primary supplier of large plano optical components for the National Ignition Facility (NIF), a $1.2 billion Department of Energy project at Livermore to produce the world's largest laser for nuclear fusion research. The contract is another significant step in the NIF program for ZYGO and provides for the Company to design, manufacture, and equip a world-class optical fabrication facility at its Middlefield, Connecticut, operations for a fixed price of nearly $10 million over an 18-month time period. The contract is presently funded to slightly in excess of $5.5 million and, consistent with similar government contracts, requires additional appropriations from the U.S. Congress prior to the Company's receiving additional funding. While there is no guarantee that the NIF program at Livermore will receive additional governmental funding in future government fiscal years or that the Company's project will be funded by LLNL beyond the initial $5 million, the contract contemplates the completion of the Middlefield NIF facility and provides for additional potential funding covering the increased capacity at the facility as well as pilot production beginning at the conclusion of the facilitization contract. The final aspect of the contract contemplates the negotiation, during the pilot production phase of the contract, of an optical components production contract which is expected to have a value to ZYGO of approximately $15 million and cover several years. Accordingly, to accommodate the space required for the NIF facility and provide additional office facilities, the Company has announced that it has commenced work at its Middlefield, Connecticut, site to expand its facilities by 35,500 square feet. It is expected that the addition will be completed in December 1997.
Zygo Corporation designs, develops, manufactures, and markets precision measurement and automation systems and components used to enhance production yields in high technology industries. The company is headquartered in Middlefield, Connecticut, and also has operations in Longmont, Colorado, and in Sunnyvale and Simi Valley, California.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current judgment on certain issues. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially. Important factors which could cause actual results to differ materially are described in the Company's reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.
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