Monday December 23 7:45 AM EDT
Ampex Corporation and Maxtor Set Terms for Use of Keepered Media to
Improve Performance of Hard Disk Drives
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec. 23, 1996-- Ampex Corp and Maxtor Corp. announced today
that they have agreed to terms upon which Maxtor(R) may acquire disk drive platters incorporating Ampex's
keepered media technology for inclusion in disk drive programs during 1997.
The agreement sets prices and other terms but does not oblige Maxtor to complete any disk drive program or
to purchase any minimum quantity of keepered media disk platters. The new disk drive programs would use
keepered media to achieve leading-edge capacity at a lower cost than alternative technologies. The
agreement permits Maxtor to use keepered media with both inductive and magneto-resistive heads.
Maxtor Corp., headquartered in Milpitas, Calif., develops, manufactures and markets information storage
products for desktop and mobile computer systems. A wholly-owned, independently operated subsidiary of
Hyundai Electronics America, Maxtor had sales of $1.2 billion in the calendar year 1995.
Maxtor's parent company, Hyundai Electronics America, has begun the establishment of an operation, Max
Media, that will manufacture disk drive platters for use by Maxtor commencing in 1997.
Initially, the keepered media that Ampex will supply to Maxtor is expected to be produced by one or more
commercial manufacturers of disk drive platters and by Max Media. Ampex has previously announced that it
presently does not have the facilities to manufacture commercial quantities of disk media and has not
decided whether or not to invest in such facilities in the future.
Ampex Corp. is one of the world's leading innovators in the fields of magnetic recording, digital image
processing and high-performance digital storage for the visual information age. Ampex is currently focusing
its technology on the emerging market for mass data storage.
During its 52-year history of innovation, Ampex has been granted thousands of patents and numerous
awards for technical achievement. Headquartered in Redwood City, Ampex's customers today include such
leading organizations as Boeing, Eastman Kodak, Mobil Oil, Time Warner and NASA.
This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, which relate to the Company's keepered media development program and
which involve certain risks and uncertainties. Information on potential factors that could cause the
Company's actual results or outcomes to differ materially from those anticipated are discussed in the
Company's letter to its stockholders dated the date hereof, and under the caption "Keepered Media
Research and Development" and elsewhere in the Company's filings with the Securities and Exchange
Commission, including but not limited to its Annual Report on Form 10-K for the fiscal year ended December
31, 1995 and its Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, June 30, and
September 30, 1996. The Company undertakes no obligation to release publicly any revisions to such
forward-looking statements in order to reflect events or circumstances occurring after the date hereof.
CONTACT: Ampex Corp.
Karen D. Schweikher, 415/367-4111 |
