PVA TePla

PVA TePla, based near Giessen, makes advanced vacuum, high-temperature and metrology systems used to grow crystals and inspect materials, above all for the booming semiconductor industry. Its inspection and crystal-growing equipment ties it directly to the world's expanding chip production. PVA TePla has paid and grown a modest dividend as profits have risen, though the yield is small because it reinvests to ride the semiconductor wave. The appeal is a growing payout attached to a strong exposure to structural chip demand rather than a high current yield.