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Technology Stocks : SYQUEST
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To: RagTimeBand who wrote (4704)11/7/1997 5:28:00 AM
From: Dale Stempson  Read Replies (1) of 7685
 
Re: Syquest in China

What is not mentioned in the "China" press release is that Syquest signed an agreement last year granting Legend exclusive distribution rights in the PRC. This was part of a larger plan to partner with Legend in a joint venture production plant in the PRC.

We do not know the terms of these arrangements. We do not know much Syquest had to give away in terms of profits. We do not know the current status of the joint venture. We do not know if the letter of intent from China's State Education Commission required that drives be supplied from the joint venture plant.

While I would agree that the EdHeads are attempting to sell large quantities of drives in the PRC, it appears no progress has been made since the June 4th press release, and even if the sales are eventually made, we still have a number of unanswered questions including what it would mean to Syquest's bottom line.

Regards - Dale
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