Veeco Instruments (NASDAQ: VECO) Faces New Regulatory Challenge with 2024 BIS Rules

Veeco Instruments Inc., a Delaware-based company specializing in advanced thin film process technologies, recently disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission that it is closely monitoring the implications of the U.S. Department of Commerce’s Bureau of Industry and Security’s (BIS) new interim final rules released on December 2, 2024.

The new rules by BIS pertain to the addition of certain companies to the U.S. Entity List and aim to regulate the export of specific semiconductor capital equipment products and services to customers based in China. Referred to as the “2024 BIS Rules,” these regulations have raised complexities that require thorough review by Veeco Instruments to assess their potential impact on the company’s products and services.

Despite the intricate nature of the 2024 BIS Rules, Veeco Instruments has conducted a preliminary evaluation and does not anticipate a material effect on its business activities in China. The company remains committed to ensuring compliance with all regulatory requirements and will continue to monitor any developments closely.

It is essential to note that the information provided in this report, along with any accompanying exhibits, is not considered “filed” for the purposes of the Securities Exchange Act of 1934, as amended, nor does it subject Veeco Instruments to liabilities under that section. Furthermore, this information is not intended to be incorporated by reference into any filings under the Securities Act of 1933 or the Exchange Act, unless expressly stated otherwise in such filings.

Veeco Instruments has also emphasized a limitation on the incorporation by reference of the information in the report, as outlined under general instruction B.2 of Form 8-K. The details presented in the report, including any exhibits, are being furnished in accordance with Items 2.02 and 7.01 and should not be deemed as “filed” for regulatory purposes or incorporated by reference into other filings, unless specifically stated by explicit reference.

As per the filing, signed on December 4, 2024, by Kirk Mackey, Vice President and General Counsel of Veeco Instruments Inc., the company has proactively addressed the recent regulatory developments and will continue to engage with stakeholders to ensure compliance with relevant guidelines.END

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Veeco Instruments’s 8K filing here.

About Veeco Instruments

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.