Advanced Energy to appoint CFO

The new executive vice president and chief financial officer of Advanced Energy Industries, Inc. from August 2006 will be Lawrence (Larry) D. Firestone, 48, following the completion of his employment …

The new executive vice president and chief financial officer of Advanced Energy Industries, Inc. from August 2006 will be Lawrence (Larry) D. Firestone, 48, following the completion of his employment responsibilities at Applied Films Corporation. Mr. Firestone was most recently chief financial officer at Applied Films Corporation, a USD 240 million thin film deposition equipment provider based in Longmont, Colorado, where for the past seven years he has lead several strategic initiatives such as global manufacturing, gross margin improvement, acquisition strategy, integration, and public market financing. Hans Betz, president and chief executive officer, said, “We are pleased to welcome Larry to Advanced Energy. I have known of Larry for some time, based on the strong partnership we have with Applied Films as our customer. Larry has an extensive finance background, as well as experience in managing international manufacturing operations and a focus on business model enhancement. He knows the industries in which we compete, and has direct experience with the markets that represent new and emerging high-growth opportunities, such as solar and organic light emitting diodes (OLEDs) for our existing product platforms. In addition, he has strong working relationships with the financial community, including many of the same research firms and investors who follow Advanced Energy. I am looking forward to this valued addition to the Advanced Energy team”. Before joining Applied Films, Mr. Firestone was vice president and chief operating officer of Avalanche Industries, an electronics manufacturing services company located in Colorado Springs, Colorado. Previously, he held finance and operations positions at Woolson Spice and Coffee Company, TechniStar Corporation and Colorado Manufacturing Technology, Inc. in addition to consulting work for several early stage technology companies. Mr. Firestone currently serves on the board of directors, and is the chairman of the audit committee of Amtech Systems, Inc., a publicly held semiconductor equipment company. Advanced Energy Industries, Inc. develops and supports manufacturing technologies for semiconductors, flat panel displays, data storage products, solar cells, architectural glass, and other advanced product applications.