Advanced Energy Industries Inc was incorporated in Colorado in 1981 and reincorporated in Delaware in 1995. The Company designs, manufactures, sells and supports industrial power conversion products that transform power into various usable forms. Its products enable manufacturing processes that use thin-film deposition for various products, such as semiconductor devices, flat panel displays, solar panels, and architectural glass. The Company also supplies thermal instrumentation products for temperature control in the thin-film process for these same markets. Its solar inverter products support renewable power generation solutions for residential, commercial, and utility-scale solar projects and installations. The Companys network of service support centers provides a recurring revenue opportunity. The Company also offers a wide variety of operations and maintenance service plans that can be tailored for individual photovoltaic ("PV") sites of all sizes. Its products are designed to enable new process technologies, improve productivity, and lower the cost of ownership for its customers. The Company operates in two segments: Thin Films Deposition Power Conversion and Thermal Instrumentation ("Thin Films") and Solar Energy. The Thin Films business unit serves the OEM and end customers in the semiconductor, flat panel display, solar panel, and other capital equipment markets, while the Solar Energy business unit focuses on commercial and utility-scale solar projects and installations, selling to distributors, Engineering, Procurement, and Construction contractors ("EPC"s ), developers, and utility companies. The Company sells residential, commercial, and utility-grade solar inverters to distributors, contractors, developers, and utility companies who integrate its inverter products into solar array installations. Its products are sold to approximately 420 OEMs and integrators and directly to more than 1,387 end users. The markets it serves are competitive and characterized by rapid technological development and changing customer requirements. The Companys competitors include: MKS Instruments, Inc. ("MKSI"), Comdel, Inc., Daihen Corporation, Kyosan Electric Mfg. Co., Ltd., Hüttinger Elektronik GmbH, Comet Holding AG, New Plasma Products (NPP), Entech, Plasmart (now a division of MKSI), ADTech , Lumasense Technologies, CI Systems, BASF, Laytec GmbH, SMA Solar Technology AG, Power-One, Inc. (now a part of ABB Ltd.), Schneider Electric SA, and Siemens AG.The Company is subject to federal, state, and local environmental laws and regulations, as well as the environmental laws and regulations of the foreign federal and local jurisdictions in which it has manufacturing facilities.
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