Monday July 7 8:09 AM EDT
Company Press Release
SyQuest and Nichimen Team up to Introduce Award-Winning SyJet Product in Japan
FREMONT, Calif.--(BUSINESS WIRE)--July 7, 1997--SyQuest Technology Inc., (NASDAQ:SYQT), and Nichimen Electronic Components Corporation, a wholly owned subsidiary of one of Japan's largest trading companies, Nichimen Corporation, today announced the completion of a master distribution agreement under which the two companies will join forces to market SyQuest's award-winning SyJet drive in the Japanese retail market.
``We aim to market the new SyJet in Japan's retail channel quickly and aggressively, making SyJet the de facto standard for backup and download in emerging network and Internet applications,'' said Shinichi Komeda president of Nichimen Components Corporation. Not including the associated cartridges, ``our first year sales target for SyQuest products is 30,000 units, amounting to more than U.S. $10 million.''
Nichimen and SyQuest will support the launch into the Japanese retail market with aggressive strategic advertising and marketing campaigns, and SyJet will be priced to gain market share.
``We will dramatically improve our presence in the Japanese retail market by leveraging Nichimen's distribution network, which is one of the largest in the world,'' said Greg Peel, vice president, Asia Pacific Sales at SyQuest. ``Nichimen also has localized the retail presentation of SyJet for the Japanese market, which will add to its appeal.'' |
