Pen Interconnect Expands Workforce, Shifts, To Meet Production Demands
IRVINE, Calif.--(BUSINESS WIRE)--Sept. 30, 1999--Pen Interconnect Inc. (OTC BB: PENC), Thursday announced that it has expanded to a multiple shift, team concept to provide the company with 60 hours of manufacturing during each week to meet increased customer demand.
"We have increased our workforce in the last thirty days by 25 percent. We have divided our skilled workforce into teams, which work four ten-hour days each. This provides us the continuous manufacturing that we need to handle incoming orders," said Mehrdad Mobasseri, president of InCirT Technology.
"The expanded backlog reflects real strength in the domestic electronics industry," Mobasseri said. "We are pleased that we are able to service this diverse industry."
Stephen Fryer, president and chief executive officer of Pen Interconnect, said the bulk of its current manufacturing is printed circuit board assembly and testing. Pen Interconnect is a provider of contract manufacturing services for original equipment manufacturers.
It builds electronic systems and subsystems for customers in a variety of industries, including computers, consumer electronics, industrial and medical instrumentation, avionics, communications and semiconductor applications.
Pen Interconnect provides the total manufacturing solution for manufacturers, including circuit and board design, mechanical and product design, prototype and volume board assembly, system services and end-user distribution. Headquartered in Irvine, it also has support manufacturing facilities in Utah and China.
Visit the Pen Interconnect Web Site at 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.
Stephen Fryer, 949/798-5881
or
American Financial Communication
Jeff Lamberson, 916/552-6532 |
