New $77M contract, Q4 estim. up, record backlog
AimGlobal Technologies EMS Division, Aimtronics, Receives Record $77 Million Contract For the Production of
Cellular Location Equipment
Company exceeds expected Q4 revenue and hits record $150 million
order backlog
AMEX and TSE: AGT
TORONTO, May 2 /CNW/ - AimGlobal Technologies Company Inc. (TSE, AMEX:
AGT) today announced that its EMS division, Aimtronics Corporation, has
received a major wireless electronics manufacturing contract. The Company
confirmed it will supply a minimum of $77 million of cellular location
electronics over the next eight to nine months to a strategic partner and
leading provider of wireless location-based technology and services.
On October 27, 1999, President Clinton signed legislation establishing
the 911 emergency number throughout the United States for both landline and
wireless telephone use. An FCC mandate now requires wireless carriers to
provide Automatic Location Identification (ALI) beginning in 2001 and phasing
in over several years. Wireless callers must be located with an accuracy of
100 metres for carriers choosing network-based technologies or within 50
metres for carriers choosing handset-based technologies.
"We are building on our strategic partnerships to expand our presence in
this key growth market," said Mr. Steve deJaray, Chairman, President and CEO
of AimGlobal Technologies. "Providing the technology and capacity to meet the
rapidly expanding needs of cellular location and wireless providers is a
crucial component to our commitment to play a significant EMS role with major
RF and wireless OEMs."
The Company also reported that it expects revenue and income for the
fourth quarter ending March 31, 2000 to set quarterly records and to exceed
current estimates. Mr. deJaray confirmed, "As we move into our first quarter,
evolving strategic EMS customer partnerships, coupled with consistent rising
demand for advanced electronics and growing opportunities, have driven our
current order backlog to exceed a record $150 million. Demand is very strong
throughout the industry segments of all of our customers, and we expect
business to remain strong for the current 2001 fiscal year."
About Aimtronics Corporation
Aimtronics Corporation, a wholly owned subsidiary of AimGlobal
Technologies Company Inc., offers a complete range of Electronics
Manufacturing Solutions and is a leading technical provider of services in the
Microelectronics industry. Aimtronics' supply chain management solutions offer
design assistance - reducing time-to-market metrics, time-to-volume metrics,
full product testing, packaging, warranty service, and end-of-life support.
Aimtronics' Microelectronics Technology Centre provides proprietary thick film
hybrid design and assembly including Chip-on-Board, Multi-Chip Module, and
Flip-Chip technologies.
Through five facilities located across the country, Aimtronics serves the
high technology markets throughout North America.
About AimGlobal Technologies Company Inc.
Founded 14 years ago, and through its operating subsidiary, AimGlobal
Technologies serves the Medical, Aerospace, Wireless, Communications,
Industrial, Military and Emergency Services markets. With operations in New
York State, Ontario and British Columbia, AimGlobal Technologies is a
recognized technical innovator and a leading manufacturer of proprietary
microelectronic solutions.
Safe Harbor Statement
Certain information in this press release contains "forward looking
statements" within the meaning of the Securities Exchange Act of 1934,
including those concerning the Company's future results and strategy. Actual
results could differ from those in the forward looking statements due to a
number of uncertainties, including, but not limited to, the demand for the
Company's products and services; the size, timing and recognition of revenue
from significant orders; increased competition; changes in Company strategy;
product life cycles; the impact of rapid technological advances, evolving
industry standards, changes in customer requirements, and fluctuations in
foreign exchange rates.
The Company's expense levels are based, in part, on its expectations as
to future revenue and a significant portion of the Company's expenses do not
vary with revenue. As a result, if revenue is below expectations, results of
operations are likely to be materially adversely affected.
For More Information Visit Aimtronics at www.aimtronics.com
For further information: AimGlobal Technologies Company Inc., Lisa
Deguchi, (604) 205-7609, ldeguchi@aimglobaltech.com |
