Pen Interconnect Announces Reorganization Of Manufacturing Site To Accommodate New Orders
IRVINE, Calif.--(BUSINESS WIRE)--Oct. 14, 1999--Pen Interconnect Inc. (OTC BB:PENC) Thursday announced that its Irvine division, InCirT Technology, has reconfigured its manufacturing facility to house a production capacity of up to $50 million per year.
``The reorganization of the manufacturing floor allows InCirT Technology to assemble multiple product lines simultaneously as well as providing the security needed for system assembly and board repair,' said Mehrdad Mobasseri, president of InCirT Technology.
``We are pleased that the reorganization allows us to efficiently serve the new customers that we have contracted with over the last several months as well as allowing us to expand our sales to additional customers in the future,' said Stephen J. Fryer, president & chief executive officer.
The reorganization involves an assembly line approach to accommodate production needs, including sub system and system assembly and its traditional board assembly projects. InCirT Technology has also established a separate facility for its Genrad test and system test equipment to improve the flow of work and worker efficiency.
Pen Interconnect provides the total manufacturing solution for manufacturers, including circuit and board design, mechanical and product design, prototype and volume board assembly and test, system services, and custom power supply and battery changer design. With headquarters in Irvine, it also has support manufacturing facilities in Utah and China.
Visit the Pen Interconnect Web site at www.pen-interconnect.com.
The statements contained in this news release that are not purely historical are forward-looking statements that may involve risks and uncertainties. The company's actual results may differ significantly from the results contained in the forward-looking statements. Factors that might cause such differences include, but are not limited to, the effect of losses and other factors on the company's credit facilities, business and results of operations; the company's limited capital resources and its ability to fulfill its existing obligations and ongoing capital needs; risks associated with excess or obsolete inventory; the potential impairment of assets; the company's dependence on key customers and their financial viability; the impact of competition; and the company's abilities to effectively manage growth. These and other risk factors are discussed in the company's filing on Forms 8-K, S-3, SB-2, 10-QSB and 10-KSB.
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Contact:
Pen Interconnect, Inc., Irvine
Stephen Fryer, CEO
949/798-5881
or
American Financial Communication
Jeff Lamberson, 916/552-6532 |
