Now this may start some fun
Signal Technology Forms New Wireless Group to Expand Its Business in the High-Growth Commercial Wireless Market; Company President Jim DiLorenzo to Lead New Business Unit
DANVERS, Mass.--(BUSINESS WIRE)--Jan. 12, 2000--As an extension of the Company's strategy to aggressively target the fast-growing, multi-billion dollar market for commercial broadband wireless communications, Signal Technology Corporation (AMEX:STZ) today announced the formation of Signal Wireless Group. The formation of Signal Wireless Group follows the Company's December 27th acquisition of Advanced Frequency Products (AFP), a leading provider of high-frequency millimeter wave and microwave transceivers for the fast growing broadband wireless communications infrastructure marketplace.
In addition to AFP's transceivers, the Signal Wireless Group will be composed of the wireless activities resident in the Company's other divisions, particularly the facility in Beverly, MA and its California and Arizona operations, which are the result of a focused R&D program. Dr. James DiLorenzo, president of Signal, will lead the Signal Wireless Group, while also retaining his current responsibilities. Dr. DiLorenzo joined Signal in March 1999 after 10 years at Raytheon Company, where he was most recently general manager of Raytheon Microelectronics, a division of Raytheon Electronics.
George Lombard, Signal Technology's chairman and chief executive officer, stated, "The formation of the Signal Wireless Group represents a new and exciting dimension to our company. Signal Wireless Group enables us to create additional momentum in our strategy to accelerate our growth in the commercial wireless communications marketplace. Our goal is to generate sales growth from the rapidly growing broadband wireless markets, which we believe will enable us to continue unlocking the significant value already at Signal. Given his extensive experience in converting state-of-the-art defense technology into highly successful commercial applications, Jim DiLorenzo is ideally suited to lead the new Signal Wireless Group."
Dr. DiLorenzo commented, "I look forward to helping guide Signal's expansion into the dynamic wireless communications market. Our initial thrust, accelerated by the acquisition of AFP, is focused in the rapidly emerging point-to-point and point-to-multi-point wireless infrastructure markets. We also offer exciting products for the base station market. We plan to leverage our strong financial position, excellent manufacturing capabilities and high-quality, innovative product lines as we invest in the sales and marketing and R&D programs to further enhance our market presence."
Signal Wireless Group's other product lines include microwave transceivers and IF modules for the wireless local loop and point-to-point infrastructure markets, as well as base station power combiners for digital and analog cellular, and PCS applications. Manufacturing for these product lines will remain at their respective facilities. |
