Simtek adds a Korean distributor. Looking at their website, it looks like they all worked for Samsung and also at a company called ZiLog and now have this company. I don't know if they are public but I haven't been able to quickly find any information about their revenues. It looks like another piece to the puzzle though. I would have thought we wouldn't be seeing any new news for a while since we just had the cc last week. I wouldn't think this would move the stock much but it is related to the work that HB and his team is doing to get Simtek products out there. Old management never could get margins and revenues up at the same time. HB and his team have done both.
Neal
SIMTEK EXPANDS SALES COVERAGE OF KOREAN
MARKET THROUGH AGREEMENT WITH PROGATE TECHNOLOGY
COLORADO SPRINGS, CO., August 1, 2007 -- Simtek Corporation (NASDAQ: SMTK), the inventor, pioneer, and world's leading supplier of nonvolatile static random access memory (nvSRAM) integrated circuits, today announced an agreement with ProGate Technology to distribute the full line of Simtek products in Korea.
ProGate Technology, headquartered in Seongnam, Korea, was established in 2001 as a leading provider of innovative and value-added solutions for the electronics industry in Korea.
"Korea is a center of design activity in Asia and we are pleased to expand our coverage of this important market through ProGate and hope to be able to capitalize on the large and growing Korean OEMs," said Steve Hayes, Simtek vice president of worldwide sales. "We see increasing momentum in our sales activities throughout Asia, and feel that ProGate's reputation and capability in Korea will assist us in our ongoing efforts to expand Simtek's global footprint."
"It is our delight to work with Simtek to distribute their products throughout Korea. Simtek products provide the reliability and performance that our customer's solutions require," said S.C. Kim, CEO of ProGate Technology. "Simtek's nvSRAM technology complements our portfolio of products and we look forward to assisting them to further expand their distribution in the Korean marketplace."
About Simtek Corporation
Simtek Corporation designs and markets high-speed, re-programmable, nonvolatile semiconductor memory products, for use in a variety of systems including RAID servers, industrial automation, GPS navigational systems, robotics, medical instrumentation, and networking and telecommunications equipment. Information on Simtek products can be obtained from its website: www.simtek.com; email: information@simtek.com. The Company is headquartered in Colorado Springs, Colorado.
About ProGate Technology
Progate Technology is providing leading semiconductor technology & intellectual properties for both technology-driven and volume-driven market in Korea. With profound knowledge of high end markets, Progate focuses on TV, LCD/PDP Panel, Telecommunication, Cellular & Handheld applications. Information on Progate Technology can be obtained from: www.progate.co.kr; email: support@progate.co.kr. The company is located in Bundang, Seongnam-City, Kyungki-Do, Korea.
Forward-Looking Statements\
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements predicting Simtek's future growth. These forward-looking statements are inherently difficult to predict and involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, projections of future performance including predictions of future profitability and expectations of the business environment in which Simtek operates. For a detailed discussion of these and other risk factors, please refer to Simtek's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K and subsequent Form 10-Q and Form 8-K filings.
For further information, please contact:
Simtek Asia Pacific
460-0002 Aichi-ken, Nagoya-shi, Naka-ku, Marunouchi 3 - 21 - 25 Seifu Building, Japan
Jeremy Cowx, Director, APAC Sales
cowx@simtek.com
Tel: +81-52-951-7686
ProGate Technology
4Fl., 472-247, Baekhyun-Dong,
Bundang-Ku, Seongnam-City, Kyungki-Do,
463-420, Korea
sckim@progate.co.kr
Tel: +82-31-709-3274
Simtek Investor Relations
MKR Group, Inc.
Marie Dagresto or Todd Kehrli
323-468-2300
smtk@mkr-group.com |
