For more information, contact:

Tom Grove Advanced Energy Industries, Inc. (970) 407-6313

Hollis Caswell Assumes COO Position at Advanced Energy

FORT COLLINS, Colorado (July 7, 1997)—Hollis J. Caswell has been named Chief Operating Officer for Advanced Energy Industries, Inc. (AE). In announcing the new appointment, AE’s President and CEO Doug Schatz said, “As COO, Holly brings us exceptional depth and balance. His broad range of experience includes technology, world-class manufacturing, global operations, and mergers and acquisitions. He has proven abilities to realize the potential of an organization while minimizing all aspects of operational cost. We are extremely excited about how Holly will contribute to the further strengthening of AE’s leadership position and growth prospects.”

 

Dr. Caswell has been a member of AE’s Board of Directors since February 1997. As COO, he reports to Mr. Schatz and has responsibility for functional management and day-to-day operations. His long-range goals are to help forge the systems, competencies, and processes AE needs to grow from $100 million to its goal of over $500 million in revenues over the next few years.

Working closely with Dr. Caswell, Mr. Schatz now has more time to focus on longer-range strategies, business development, and technologies for AE. External finance, advanced research, and special projects departments continue to report to Mr. Schatz.

Dr. Caswell was recently President of Computers Systems for Unisys, a ten billion dollar company. Prior to this, Dr. Caswell worked at IBM for 26 years in such key positions as research and development, product assurance, and operations. He was also Director of Applied Research at Thomas J. Watson Research Center as well as GTD VP and Director of the Fishkill Development Laboratory. Currently, Dr. Caswell is a Director of HYPRES, Inc., a developer of superconducting electronics, and a Director of Thomas Group, Inc., a consulting firm.

Founded in 1980, AE is a leading supplier of power conversion and control systems for plasma-based thin film production equipment. Our systems are critical to industrial processes that use gaseous plasmas to deposit or etch thin film layers on materials or substrates such as glass, silicon, and metals during the manufacture of semiconductors, data storage media, flat panel displays, and a host of other products.