This gave me a chuckle-->("C3D-Thuringia") that will be incorporated later this year.
Constellation 3D, Inc. and the Government of the Free State of Thuringia, Germany, Sign Letter of Intent
NEW YORK--(BUSINESS WIRE)--May 10, 2000--Constellation 3D, Inc. (OTC Bulletin Board: CFMD) ("C3D" or the "Company") announced today it has signed a Letter Of Intent with the Government of the Free State of Thuringia and the City of Altenburg (Thuringia, Germany) to establish manufacturing and research & development facilities in Altenburg. This will be done through a new company, C3D-Thuringia GmbH
("C3D-Thuringia") that will be incorporated later this year.
C3D-Thuringia will be established by C3D with grants and State-guaranteed loans provided by the Government of Thuringia and additional investment from the industrial and financial community. It is anticipated that the project's total investment cost will be approximately 150 million DM over the next 3-4 years.
A Research & Development ("R&D") facility will be set up in Altenburg to develop media and drive production prototypes based on C3D's Fluorescent Multilayer ClearCard(TM) technology, which will provide data storage capacities up to 4.7GB in a credit-card-sized carrier. The facility will also be used for R&D work on future generations of the ClearCard and other technologies developed by C3D.
The Letter of Intent also provides for the establishment in Altenburg of a state-of-the-art manufacturing plant for FMC products.
"As the market demand grows for high-capacity data storage solutions such as those provided by Constellation 3D, Inc., it is essential to have efficient, large scale manufacturing facilities developing and producing both drives and media," said Dr. Eugene Levich, President and CEO of C3D. "We are very excited to be working with the Government of Thuringia to create a world class manufacturing plant and associated R&D facility in Altenburg. The region hosts some of the leading optical data storage production facilities and technology research institutions in the world, making it a logical choice for establishing a facility, both in terms of the availability of potential strategic manufacturing partners and R&D talent and expertise," he said.
Constellation 3D, Inc. develops advanced data storage products including the extremely high capacity, multi-layer FMD DVD-sized disc and the credit-card-sized ClearCard(TM). The company has offices in New York, Florida and California, and laboratories in Israel and Russia. Constellation 3D, Inc. holds or has made applications for over 60 worldwide patents in the field of optical data storage. More information is available at www.c-3d.net.
Statements contained in the news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from expected results.
THE SEC AND NASD HAVE NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CONTACT:
Constellation 3D, Inc.
John Ellis, VP of Marketing
Email: marketing@c-3d.net
Email: media@c-3d.net
Telephone: 978/371-7787
OR
Investor/Broker Inquiries: investors@c-3d.net
OR
Business Development Inquires:
Patrick Maloney, SVP of Business Development
Email: businessdev@c-3d.net
OR
Legal Inquiries:
Michael L. Goldberg, Esq., Director of Legal Affairs
Email: mlg.esq@worldnet.att.net
Telephone: 954/568-3007
KEYWORD: NEW YORK INTERNATIONAL EUROPE
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