American Technology Corp. and PEMSTAR Announce Manufacturing Partnership; Global Manufacturer to
Build Volume HSS and LRAD Orders
SAN DIEGO--(BUSINESS WIRE)--May 20, 2004--American Technology
Corp. (ATC) (Nasdaq:ATCO) announced today it has entered into a
manufacturing partnership with PEMSTAR, Inc. (Nasdaq:PMTR) to build
volume HSS(R) and LRAD(TM) orders. Based in Rochester, Minn., PEMSTAR
is a leading provider of manufacturing services with over 1,000,000
square feet in 15 manufacturing facilities located in the United
States, Asia, Europe, South America and Mexico.
"PEMSTAR's global reach and high-quality, high-volume production
capabilities provide ATC the manufacturing partner we have been
seeking to ramp-up production of our growing HSS and LRAD orders,"
said Kalani Jones, president and chief operating officer for American
Technology Corp. "Our strategy for 2004 included establishing strong
external manufacturing. We are pleased to be working with PEMSTAR in
transitioning from limited in-house production to volume out-sourced
production."
"We are excited to be working with American Technology Corporation
in manufacturing their revolutionary HSS and LRAD audio products for
their growing list of commercial, government and military customers,"
said Philip Savoie, vice president/general manager Americas West
Operations for PEMSTAR. "PEMSTAR's attention to high-quality
manufacturing in state-of-the-art facilities around the world, coupled
with the vast potential for ATC's sound products, create a strong
partnership in Shaping the Future of Sound(R)."
ATC will continue prototyping and research and development at its
corporate facilities in San Diego and producing NeoPlanar(R) products
in San Diego and Carson City, Nev. pending future outsourcing.
About American Technology Corp.
American Technology Corp. is Shaping the Future of Sound(R) by
developing, manufacturing and globally distributing its proprietary
sound technologies and products which include: the award-winning
HSS(R) (HyperSonic(R) Sound Technology); LRAD(TM) (Long Range Acoustic
Device); NeoPlanar(R) Technology; PureBass(R) Sub-Woofer Technology;
and Stratified Field(R) Technology (SFT(R)). The company is
establishing a strong portfolio of patents, trademarks and
intellectual property including over 140 U.S. and foreign patents and
patent filings to date. For more information on the company and its
technologies and products visit our Web site at www.atcsd.com.
About PEMSTAR
PEMSTAR Inc. provides a comprehensive range of engineering,
manufacturing and fulfillment services to customers on a global basis
through facilities strategically located in the United States, Mexico,
Asia, Europe and South America. The company's service offerings
support customers' needs from product development and design, through
manufacturing to worldwide distribution and aftermarket support.
PEMSTAR has over one million square feet in 15 locations worldwide.
For more information on PEMSTAR, visit: www.pemstar.com.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: Except for historical information contained
herein, the matters discussed are forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act. You should
not place undue reliance on these statements. We base these statements
on particular assumptions that we have made in light of our industry
experience, the stage of product and market development as well as our
perception of historical trends, current market conditions, current
economic data, expected future developments and other factors that we
believe are appropriate under the circumstances. These statements
involve risks and uncertainties that could cause actual results to
differ materially from those suggested in the forward-looking
statements, including but not limited to changes in the sound
reproduction industry, our ability to develop future products,
technology shifts, potential technical or manufacturing difficulties
that could delay products, competition, pricing pressures, the
uncertainty of market acceptance of new products and services by
customers, warranty or other claims, the outcome of pending or future
litigation, general economic factors and other risks identified and
discussed in the Company's filings with the Securities and Exchange
Commission. These forward-looking statements are based on information
and management's expectations as of the date hereof. Future results
may differ materially from the Company's current expectations.
American Technology Corporation disclaims any intent or obligation to
update those forward-looking statements, except as otherwise
specifically stated.
--30--AC/sd*
CONTACT: American Technology Corp.
Robert Putnam, 858-679-3168 (Investor Relations)
robert@atcsd.com
or
Don Mathias, 949-855-4520 (Media Relationns)
dwmath@aol.com |
