Subj: More News
Subj: Semiconductor Laser International awarded Phase III contract under the Precision
Date: 97-05-13 09:49:29 EDT
From: AOLNewsProfiles@aol.net
BINGHAMTON, N.Y.--(BUSINESS WIRE)--May 13, 1997--Semiconductor
Laser International Corp. (SLI)(NASDAQ: SLIC, SLICW) announced today
that the company has been selected to participate in Phase III of
the Precision Laser Machining Consortium, having successfully
completed Phase II of this contract. The Consortium is a group of
some 20 companies, with TRW Space & Electronics Group as
administrative leader. The Consortium has been authorized by the
Department of Defense Advanced Research Projects Agency (DARPA).
SLI will provide technology and expertise in the development of
high power diode lasers, for the purpose of manufacturing high power
diode pump arrays suitable for precision laser machining
applications, such as automotive and jet engine manufacturing.
The result of this technology is that automobiles and jet
aircraft will be more fuel efficient, and exhaust emissions will be
greatly reduced. Because of new welding techniques, auto bodies
will be lighter, yet stronger and more crash impact resistant.
SLI holds an exclusive license from Northwestern University for
high power aluminum-free semiconductor diode lasers. The
aluminum-free technology was invented by Professor Manijeh Razeghi
with funding provided by DARPA.
Dr. Geoffrey T. Burnham, president and chief executive officer
of SLI, said, "This is a very exciting opportunity for our company,
because SLI will be involved in the future of automotive and other
types of precision machining worldwide."
The goal of the Consortium, formed in 1993, is to develop a new
generation of laser machine tools, advanced laser systems and
laser-assisted manufacturing processes, using Diode Pumped Solid
State Lasers. The objective of this project is to extend the
brightness of these lasers to levels required for advanced
industrial laser applications.
Benefits of this new technology include higher precision and
speed, easily tailored performance for cutting, drilling, welding
and surface modification tasks.
In addition to SLI and TRW, companies contributing to the
Consortium include Fibertek, Inc., General Electric Corp. Research
and Development, General Electric Aircraft Engines, Hughes Aircraft
Co., Northrop Grumman, SDL Inc., The Boeing Co., Caterpiller Inc.,
Cummins Engine Co. Inc., Newport News Shipping, United Technologies
Corp., General Motors Corp., Ford Motor Co., Chrysler Corp., Process
Equipment Co., Utilase Systems Inc., Edison Welding Institute,
University of Illinois, University of Michigan, Penn State
University, Opto Power Corp., Star Medical Technologies, and Spire
Corp.
SLI is a rapidly growing company dedicated to quality
manufacturing and production of high power semiconductor lasers at
low cost. SLI's technology has potential uses for automotive,
dental, medical, telecommunications, data storage, printing and
military applications.
Statements concerning results of future capital expenditures,
production and sales levels, total assets, cash flow and earnings
are forward looking statements. These statements are based on
assumptions concerning production and sales, operating expenses,
administrative expenses, interest and other financing costs that
management believes are reasonable and based on currently available
information.
However, management's assumptions and the company's future
performance are both subject to a wide range of business risks and
there is no assurance that these goals and projections can or will be
met. Further information is available in the company's filings with
the Securities and Exchange Commission, which are incorporated by
reference.
CONTACT:
Martin E. Janis & Co., Chicago
Hal Schweig, 312/943-1100
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