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30 January 2008


Rubicon appoints business expert to board

Rubicon Technology Inc of Franklin Park, IL, USA, a vertically integrated manufacturer of sapphire material, wafers and components, has appointed Raymond Spencer, CEO of Capgemini’s Financial Services Strategic Business Unit, as a member of its board of directors.

Spencer has more than 30 years experience spanning international business, management planning, technology, finance, and mergers & acquisitions. As founder, chairman and CEO of Kanbay International Inc (a provider of IT services and to the financial-services industry) he led the firm from its inception, through its initial public offering (one of the top five performing IPOs on NASDAQ in 2004), to its acquisition last year by Capgemini. Spencer also serves as a board member of the Information Technology Association of America (ITAA).

“Our business is global and our product-line is growing. Raymond brings outstanding experience and insight to our organization,” says Rubicon’s president and CEO Raja Parvez.

Last September, Rubicon recruited William F. Weissman (Kanbay’s former chief financial officer) as CFO, treasurer and secretary. In November, the firm raised $93.8m in its IPO on the Nasdaq Global Market, partly to fund capital expenditure. Rubicon had previously said in May that it was expanding its manufacturing capacity by 25% for Q1/2008 and by 40% by the end of 2008, with the addition of a new 30,000ft² production facility in the Chicago area (complementing the firm’s existing 80,000ft² operation). The expansion should enable Rubicon to address the growing demand from LED makers for both small-diameter and large-diameter (4-inch and above) sapphire wafers.

See related items:

Rubicon announces pricing of IPO to raise over $100m

Rubicon files for $100m IPO

LED market drives Rubicon to expand sapphire substrate capacity

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