``Aimtronics' strategic partner to Abbott Laboratories - Aimtronics at run rate to supply $60 million of medical electronics to Abbott through the next 16 months (to F/Y ending March 2001)
AUSTIN, TX, Nov. 11 /CNW/ - AimGlobal Technologies (AMEX and TSE: AGT)
today announced its Electronic Manufacturing Solutions Division -
``Aimtronics', has been chosen as strategic partner and strategic supplier by
Abbott Laboratories Medisense Products (``Abbott'). The Company confirmed
that excellence in their supply of medical electronics to Abbott has elevated
their relationship through technology and quality to that of ``strategic
partner'.
The Company further confirmed that at current delivery rates, Aimtronics
will supply approximately $60 million, or 1,200,000 various highly
sophisticated chip-on-board medical electronic assemblies to Abbott during the
remainder of this fiscal year and through fiscal 2001.
Abbott Laboratories Medisense Products distribute and provide glucose
monitoring equipment for both home and hospital use. Its products are sold to
diabetics around the world. Through the Company's strategic partnership with
Abbott, Aimtronics will further assist Abbott with current and future product
development efforts in the design, manufacturability and production areas.
For Abbott Laboratories ``...the partnership with Aimtronics is founded
on Aimtronics fulfilling the fundamental requirements of being an excellent
strategic technical partner; namely, technology, quality, production and on-
time delivery. Aimtronics has achieved our 100% rating on quality, technology
and on-time delivery for the last fourteen consecutive months.'
Michael Marti, President of Aimtronics stated, ``Aimtronics will deliver
technology and this level of service to Abbott in this and other strategic
areas: design for manufacturability, design for test, along with the provision
of advancing electro-technologies and higher level, more sophisticated
assemblies. Aimtronics' desire is to evolve into such strategic relationships,
that transcend the bounds of traditional customer relationships with all of
our customers.'
About the Company
Founded 14 years ago, and through three operating subsidiaries, AIMGlobal
Technologies serves the Medical, Aerospace, Communications, Industrial,
Military, Power Utility, Emergency Services Consumer markets and Internet
business applications markets. With operations in Texas, New York State,
Ontario and British Columbia, AIMGlobal Technologies is a recognized technical
innovator and a leading manufacturer of proprietary microelectronic solutions
and hazardous air and gas monitoring products for life, health and safety
applications.
Safe Harbor Statement
Certain information in this press release contains ``forward looking
statements' within the meaning of the Securities Exchange Act of 1934,
including those concerning the Company's future results and strategy. Actual
results could differ from those in the forward looking statements due to a
number of uncertainties, including, but not limited to, the demand for the
Company's products and services; the size, timing and recognition of revenue
from significant orders; increased competition, changes in Company strategy;
product life cycles; the impact of rapid technological advances, evolving
industry standards, changes in customer requirements, and fluctuations in
foreign exchange rates. The Company's expense levels are based, in part, on
its expectations as to future revenue and a significant portion of the
Company's expenses do not vary with revenue. As a result, if revenue is below
expectations, results of operations are likely to be materially adversely
affected.
For further information: Company Contact: AIMGlobal Technologies, Megan
Simms-Beatty, (604) 205-7609 |
