November 20th, 2008
Picosun Issues Stock Incentive Plan
Helsinki, Finland – November 20, 2008 – Leading Atomic Layer Deposition systems manufacturer Picosun Oy, Finland issued 200,000 new equity stocks as it made public a stock award plan for its employees and members of the Board of Directors. The total stock award plan represents eight percent of the present total equity of Picosun Oy.
"A fifth of the new stock was reserved for future key members of the staff, and the rest was subscribed to by current employees and members of the Board of Directors," says Mr. Kustaa Poutiainen, President and Chief Executive Officer of Picosun.
"So far, effects of the global economic crisis have not been felt at Picosun. We currently have a full dozen ALD reactors on our assembly line, and interest from both production and research clients world-wide has, if anything, increased," Poutiainen explains.
According to Mr. Poutiainen, the current stock award plan follows an internal corporate timeline which, in five years time, leads to an Initial Public Offering (IPO). "Next on the agenda is a venture capital investment aimed at fuelling our strong growth," he says.
Picosun is an international ALD equipment manufacturer with world-wide sales and service organization. Picosun develops and manufactures Atomic Layer Deposition reactors for micro- and nanotechnology applications. Picosun represents continuity to over three decades of ALD reactor manufacturing in Finland. Picosun provides its customers with versatile, reliable and user-friendly ALD process tools, which offer unique scalability from research to production. Picosun is based in Espoo, Finland and has its US headquarters in Detroit, Michigan. SUNALET ALD process tools are installed in various universities, research institutes and companies across Europe, USA and Asia.
Dr Tuomo Suntola, inventor of ALD technology, is Member of the Board of Directors of Picosun. World's most experienced ALD reactor designer Sven Lindfors is Picosun´s Chief Technology Officer and one of the founders of the company. Picosun Oy is a part of Stephen Industries Inc Oy.
For further information please contact:
Picosun Oy
Mr. Juhana Kostamo, Managing Director
Tietotie 3
FI-02150 Espoo, Finland
Tel. +358 50 321 1955
Fax. +358 20 722 7012
www.picosun.com
info@picosun.com
Download the English press release here.
