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Biotech / Medical : Trinity Biotech (TRIBY)

TRIB 0.879

+3.4%

Nov 14 9:30 AM EST

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To: milton who wrote (9343)	5/29/1998 8:44:00 AM
From: Keiko	Read Replies (1) of 14328

Milton, I'm here........it's 0530 hrs out in Oregon and 1330 hrs in Dublin. Jet Lag is slowly subsiding and hopefully after I catch up on my stack of mail and get these photos developed and scanned for all to see. As I previously mentioned the Bray facility is quite impressive just in its size since it sits on over 4 acres of prime real estate in a large industrial complex in the western section of Bray, ( a picture postcard seaside village ). Bray is also the home of Dell Computer and Maxtor owns the adjoining property to Trinity. All of the Centocor business has been transferred to Bray including a large walk-in cooler filled with CNTO products. They obviously built up their inventory since they anticipate a lag time in getting back up to full production. Some of this production equipment is priced well over $ 1 million dollars and are customized, proprietary fabrication machines built specifically for Centocor. From what I noticed they have cannibalized the Guildford facility down to and including the plumbing. They also have brought onboard their maintenance man from the UK who is in the prosess of re-installing these complicated machines. Keep in mind this was an " empty shell " when they purchased the building and all new coolers, deionized water systems and air conditioning systems were later installed. ( A Herculean task ) Many of the production rooms have controlled atmospheres. The Sandyford facility is still up and running and they they will be moving into Bray after the CNTO line is up and running. They have a tenant which has spoken for the leased plant in Sandyford and with property values skyrocketing in Dublin they can look to make a profit on that sub-lease A few quick observations..... The Trinity Biotech manufacturing process is awaiting ISO 901 approval. They plan to sub-lease the Guildford plant in Surrey. The CEO mentioned they have no future plans to issue more stock and they are not adverse to peeling off blocks of 100,000 shares of Selfcare and generate cash. They do not have an antagonistic relationship with Selfcare since those shares were purchased merely as an investment. The company is very " people orientated " and they have provided a huge dining room which can seat hundreds of staff. Included in this space they have provided for hot meals with a steam table. " The most important asset this company presently has goes out the front door each evening " , CEO Ronan O'Caoimh ********** I detect a certain amount of dissension among the troops here at the thread and I can understand why. I will continue to try and bring all my observations into the thread but I am not " carrying the water " for anyone. What I observed was a highly motivated, energetic group of dedicated men that seemed like " Buddies" with a very close business relationship , all working together to get the job done. The attitude of the Officers of the company ?..... TGIM ...thank God it's Monday and we can back to the Challenge ~~~' later ~~~~

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