Maybe some good news for WDC. Competitor Micropolis going out of business. (Sorry if this was already posted).
Micropolis To Close Its Doors
(11/11/97; 4:00 p.m. EST)
By Joseph F. Kovar, Computer Reseller News
The board of directors of Singapore-based Micropolis
decided Tuesday to close the company and formed a
team to act as liquidators.
The decision was made after a review of the company's
financial position and market conditions, said
Micropolis officials.
According to officials, 1997 was a very difficult year for
the company. They claimed that the entry of three new
major players in the enterprise storage industry caused
severe price erosion due to excess inventory and
capacity.
Micropolis' revenue for the first three quarters of 1997
totaled $140 million, far below the monthly target of
$45 million.
A team has been formed to act as the company's
provisional liquidators. The company expects this team
will explore all options, including the sale of all or part
of the business and/or assets, as well as whether certain
operations will continue.
Micropolis has about 300 personnel in the United
States, 1,300 in Singapore, and 700 in Thailand, plus
marketing and sales staff in Europe, said officials.
Calls to Micropolis' Singapore headquarters were
answered by an unidentified person who initially
responded, "The plant is shut down." He then said, "No
one is working today. Tomorrow they will come back."
Callers to Micropolis' sales office in Singapore heard a
recorded message: "We are sorry we are unable to
take your call."
Micropolis is the parent company of Micropolis USA
of Chatsworth, Calif. Micropolis' hard-drive business
and assets were acquired by Singapore-based
Singapore Technologies in March 1996, becoming a
wholly owned independent subsidiary of Singapore
Technologies. |
