Tom, MWAV expands into Asia.
Regards,
Tom
Wednesday May 31, 4:55 pm Eastern Time
Company Press Release
SOURCE: M~Wave, Inc.
M~Wave Opens Office in Asia
BENSENVILLE, Ill., May 31 /PRNewswire/ -- M~Wave, Inc. (Nasdaq: MWAV - news), a manufacturer of high
performance printed circuits used in wireless communications, announced today that it has opened an office in Singapore to
manage its global expansion into Virtual Manufacturing. Mr. George Lee Say Peng will head the office as Director of Asian
Operations.
``We are excited to have Mr. Lee join our organization,'' explained Joseph Turek, Chairman and Chief Executive Officer.
``His expertise and experience will accelerate our plans on moving quickly into Virtual Manufacturing.'' Mr. Lee joins
M~Wave after several years of experience with the Shipley Corp., a supplier of specialty chemicals and products into the
printed circuit industry.
M~Wave expects to develop relationships with suppliers in Singapore, Malaysia, Thailand, Korea. Taiwan, China, India and
Japan. Virtual Manufacturing is a means to supply American companies with lower cost products. The Company expects to
import high performance printed circuits, metal-machined parts and raw materials used in the manufacture of printed circuits.
``Virtual Manufacturing in Asia will augment our operations in the States,'' indicated Mr. Turek. ``Our previously announced
expansion plans into 50,000 square feet of manufacturing facilities in the Chicago area will be needed to handle the rapid
growth of our business.'' M~Wave expects sales to double in 2000 with sales between $20 million and $25 million.
Mr. Turek went on to say that ``Our office in Asia will give M~Wave a strong starting point to eventually develop the ability to
license our patented bonding process, Flexlink II(TM).'' Flexlink II(TM) is a product that is widely accepted as a means to
manufacture lower cost and higher efficiency power amplifiers for the wireless infrastructure industry. Key users of M~Wave's
patented process are Lucent Technologies, Motorola, and Spectrian.
This news release contains predictions, estimates and other forward-looking statements that involve a number of risks and
uncertainties. While this outlook represents our current judgment on the future direction of the business, such risks and
uncertainties could cause actual results to differ materially from any future performance suggested above. Factors that could
cause actual results to differ include the following: dependence on suppliers and subcontractors for circuit board components;
successful award of contracts under bid; a highly competitive environment; design and production delays; cancellation or
reductions of contract orders; effective utilization of existing and new manufacturing resources; pricing pressures by key
customers; and other factors detailed in the Company's Securities and Exchange Commission filings.
About M~Wave:
Established in 1988 and headquartered in the Chicago suburb of Bensenville, Ill., M~Wave is a manufacturer of high
performance printed circuits through its wholly owned subsidiary Poly Circuits. The Company's products are used in a variety
of telecommunications applications for wireless and Internet communications. M~Wave services customers like Lucent
Technologies and Motorola, Inc. with its patented bonding technology, Flexlink IITM. The Company trades on the Nasdaq
SmallCap market under the symbol ``MWAV.'' Visit the Company on its web site at www.mwav.com .
For more information on M~Wave via fax, free of charge, dial 1-800-PRO-INFO and enter the ticker ``MWAV.''
SOURCE: M~Wave, Inc. |
