Any info about Iomega (IOM)? Message Board

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Non-Tech : Any info about Iomega (IOM)?

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To: rocky haag who wrote (4531)	7/18/1996 12:32:00 PM
From: Ira Goldstein	of 58324

To All: ROY, Utah (Dow Jones)--As part of its strategy to expand production capabilities world-wide, Iomega Corp. (IOMG) entered into an agreement to buy a hard-drive manufacturing facility in Penang, Malaysia from Quantum Corp. (QNTM). The plant will serve as an additional manufacturing site for Iomega's Jaz drives and disks initially, with the intent to eventually broaden production to other Iomega products, the company said in a press release. The facility has the capital equipment and manufacturing infrastructure in place for the production of Iomega Jaz drives and disks. The addition of this high-volume facility is designed to increase Iomega's manufacturing efficiencies and contribute to the company's strategy to drive product costs down, Iomega said. The Malaysian site is a 376,000 square-foot facility that includes a 36,000 square-foot clean room. Iomega Jaz drive and disk production in Penang is expected to begin in the third quarter of 1996. Iomega Corp. provides personal computer storage solutions. (END) DOW JONES NEWS 07-18-96 11:52 AM Ira PS. The stock is trading @ 28 1/8

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