October 27, 2006
By: by Richard A. D'Errico, The Business Review
Vistec Lithography Ltd., a manufacturer of semiconductor equipment, is moving to the Watervliet Arsenal from Cambridge, England.
Vistec Lithography, a subsidiary of Vistec Semiconductor Systems, will receive $30 million from the state Assembly to retrofit Building 125 at the arsenal.
The company is moving its entire operation, including 25 employees. Over the next five years, Vistec expects to add at least 55 jobs paying between $50,000 and $100,000 a year.
Papken der Torossian, chairman of Vistec Semiconductor Systems, said it was important that his company be closer to the Collegeof Nanoscale Scienceand Engineeringon the Albany NanoTech campus as it develops electron-beam technology that will make computer chips smaller.
The relocation will be completed by July 2007, said Tony Gaetano, president of the Arsenal Business & Technology Partnership, a nonprofit development corporation created to bring private employers and research and development to the arsenal.
Vistec will move a research unit to the state University at Albany's campus.
Vistec's move is expected to create $175 million in economic activity in the region over the next five years.