Semiconductor Equipment - Berenberg Bank

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Suess Microtec AG Small/Mid-Cap: Technology Hardware Company background SUSS is a leading supplier of equipment and process solutions for the semiconductor and LED industry, with more than 60 years of engineering experience. It focuses primarily on the mid- and back-end of the semiconductor fabrication process, supplying equipment including mask aligners, coater/developers and UV tool sets (see Figure 9 below), which are used in wafer level packaging, advance packaging and MEMS manufacturing processes. It is also involved in the front-end semiconductor fabrication process, specifically in terms of supplying photomask cleaning tools. In 2012, SUSS acquired US-based Tamarack Scientific, and enhanced its product portfolio meaningfully with Tamarack’s laser processing and ultraviolet projection tools. Figure 9: SUSS product portfolio Lithography Substrate Bonder Photomask equipment Spin/Spray Coater/Developer Wafer bonder -ACS300 Gen2 -XBS300 -MaskTrack Pro -ACS200 Gen 3 -XBC300 Gen2 -Mask Track -ACS200 Plus -XBC300 -Asx series -Gamma -CBC200 -HMx series -Delta 12RC -ABC200 -Delta Altaspray -CB200M -RCD 8 -SB6/8e (semi auto) -Lab Spin 6 and Lab Spin 8 -SB6/8L -HP8 -BA6/BA8 Mask Aligner -BA8 Gen3 -MA 300 Gen 2 -CL 200/CL8 -MA 200 Compact -MA150e -MA 100/150e/Gen2 -MA/BA8 Gen3 -MA/BA6 Gen2 -MJB4 Source: Company data End-markets SUSS’s customers include large packaging companies, semiconductor IDMs, LED manufacturers and mask shops. Its products are widely used in various endmarkets including advanced packaging, 3D integration, MEMS and mask manufacturing (see Figure 10). 86
Suess Microtec AG Small/Mid-Cap: Technology Hardware Figure 10: Products used in different end-markets Front end Back end Segment Photomask equipment Lithography Substrate Bonder Products used MaskTrack Pro Exposure system Mask Aligher Coater/developer Wafer bonders Process step Photomask cleaning Stepper, Scanner Mask Aligner (proximity exposure) coating/developing Bond Alignment (UV projection) Nano imprinting Permanent Bonding Temporary Bonding Mask manufacturing Advanced Packaging Markets 3D Integration MEMS LED Source: Company data Mask manufacturing: Photomask equipment is used for cleaning and processing the photomasks used in the lithography process. SUSS currently holds an 80% share of the mask cleaning equipment market for ArFi lithography tools. The most advanced EUV lithography tools require the use of highly sensitive reflecting masks instead of optical transmission masks, and operators need to use advanced mask cleaning equipment: SUSS is currently the only provider of EUV mask cleaning tools. Advanced packaging (such as flip chip and wafer level packaging): With the growing spread of Ultrabooks, tablets and smartphones which demand thin, light designs, advanced packaging is preferred over traditional wire bonding for producing thin, light designs. Flip chips are used as a cost effective solution for forming electrical connections with small bump pitches instead of tradition wire. As a result, the completed chip is much smaller and thinner, and the short wires allow higher speed data processing. Wafer level packaging allows all steps of integrated circuit packaging to be performed at wafer level, and reduces the size of the packaging footprint so that no plastic housing and wires are needed. 3D integration: New 3D integration technology is likely to be developed in parallel with shrinking as part of the constant requirement for smaller components, and is expected to drive smaller chip sizes once shrinkage has reached its physical limit. 3D stacking using through-silicon vias (TSV) is the one of the main 3D integration solutions being considered. By stacking the chips or wafers on top of each other instead of laying them out on a planar surface, 3D integration offers the advantages of shorter signal paths, reduced power consumption, enhanced bandwidths and a smaller surface area. Thinner wafers are usually required in 3D integration to reduce the thickness of chips. MEMS: MEMS are key components for automotive, industrial, medical, aerospace and consumer electronics. MEMS sensors are used in applications ranging from gaming, smartphone and medical testing to satellites. The manufacturing process for MEMS requires highly specialised equipment to create mechanical structures. SUSS has been supplying equipment to the MEMS industry ever since such products have been produced in volume. LED: SUSS solutions are used in three stages of the LED process: the structuring of substrates, the structuring of LED chips and chip packaging. 87
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