Varian Semiconductor Equipment Associates Inc, a vendor of ion implantation systems for the semiconductor industry, has now been spun off from its parent company, Varian Associates Inc. Last year, Palo Alto, California-based Varian Associates said it would split itself into three, in an effort to help it beat the semiconductor slump (CI No 3,481). The semiconductor arm, which retains its Nasdaq listing, contributed $424m to the total revenues of $1,423m in 1997. The other two units were health care equipment and scientific instruments. Varian Semiconductor, now based in Gloucester, Massachusetts, says it has an installed base of 2,700 systems. It says it has $100m in cash, and is poised for growth in a market now projected to see 24% compound annual growth rates through 2003. Varian Associates Inc has changed its name to Varian Medical Systems Inc and is listed on the New York Stock Exchange. Varian Inc, also listed on Nasdaq, becomes the scientific instruments arm.
