Southwall article. I am hoping to be back home in a couple weeks and be able to contribute more to the board, as I have in the past.
Walt
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Southwall Purchases New Production Machine for Tempe, Arizona Facility
Business Wire - August 18, 1998 08:18
PALO ALTO, Calif.--(BUSINESS WIRE)--Aug. 18, 1998--Southwall Technologies Inc. (NASDAQ:SWTX) announced today that it has entered into a supply contract with Delta V Technologies, Inc. of Tucson, Arizona to supply a large-scale sputtering system for installation into Southwall's Tempe, Arizona plant.
Delta V is a wholly-owned subsidiary of Presstek, Inc. (NASDAQ:PRST), located in Hudson, N.H.
Thomas G. Hood, president and CEO of Southwall, said, "We are extremely pleased to have reached an agreement on the purchase of this system with Delta V. They have proven themselves to be a talented group of engineers and designers on previous coaters, and we have every expectation that they will design and build a cost-effective, state-of-the-art sputter roll coater for Southwall.
"Delta V has committed to a fast-paced schedule for completion of this equipment, and the close proximity to our Tempe plant will prove valuable during the design and integration phases, as well as offer ease in shipping from Tucson to Tempe."
"Furthermore," Hood added, "this machine will bring needed capacity to Southwall in the area of XIR(R) solar control coatings which are used in the OEM and aftermarket glass business, both for buildings and for automobiles. We expect that this equipment will begin to add revenues to the company by the 4th quarter of 1999."
"We are delighted to have established this synergistic relationship," said Delta V President Frank Engle. "Southwall is a global leader and preferred supplier of high performance coatings on flexible substrates, and we are dedicated to developing new products and vacuum coating processes that define the state-of-the-art."
Delta V Technologies, Inc. develops processes, materials and equipment for vacuum coating applications. Its equipment and process innovations are used in a broad range of industries and applications, including graphic arts, capacitors, electronics, optics, architectural and decorative glass, flat panel displays and packaging. It is a wholly owned subsidiary of Presstek, Inc.
Founded in 1987 Presstek, Inc. is a leading developer and international marketer of non-photographic, non-toxic digital imaging and printing plate technologies for the printing and graphic arts industries.
Southwall Technologies Inc. designs and produces thin film coatings that selectively absorb, reflect or transmit certain types of electromagnetic radiation. Southwall products are sold into the architectural, automotive and electronics markets.
This press release may contain forward-looking statements as that term is defined in the Private Securities Reform Act of 1995, including, without limitation, statements regarding the company's expectations, beliefs, intentions or strategies regarding the future. All forward-looking statements included in the document are based on information available to the company on the date hereof, and the company assumes no obligation to update any such forward-looking statements. Further risks are detailed in the company's filings with the Securities and Exchange Commission, including those set forth in the company's most recent Form 10-K and Quarterly Reports on Form 10-Q.
CONTACT: Southwall Technologies
Thomas G. Hood, 650/962-9111 (CEO)
Bill R. Finley, 650/962-9111 (CFO)
www.southwall.com |
