Subj: Maxwell Technologies Announces $7 Million Contract With...
Date: 1/11/99 7:22:54 PM Eastern Standard Time
From: AOL News
BCC: JerryCo
Maxwell Technologies Announces $7 Million Contract With Siemens ElectroCom L.P
SAN DIEGO--(BUSINESS WIRE)--Jan. 11, 1999--Maxwell Technologies Inc. (NMS-MXWL) today announced that its I-Bus subsidiary has entered into a 12-month supply agreement with Siemens ElectroCom L.P. with an estimated value of $7 million.
Under the terms of the agreement, I-Bus will supply fully integrated PC platforms for Siemens' database server for the United States Postal Service.
"The design win is one of several that I-Bus has secured with key players and underscores its reputation as the leading provider of integrated industrial computer solutions," said Tom Horgan, interim chief executive officer of Maxwell Technologies. "In addition, this agreement further strengthens our ties with Siemens following the recent broad-based licensing agreement for Maxwell's PowerCache(TM) ultracapacitor. It is an example of our successful strategy to leverage existing relationships across the subsidiaries to provide other high-quality products and services."
"I-Bus provides us with a single point of accountability for high-quality design, manufacturing, and integration of our database solution," said Jordan Welch, program manager for Siemens ElectroCom. "This allows us, in turn, to focus on our core competency -- providing our customers with a leading-edge database solution. For a customer such as the US Postal Service, this is paramount."
Added John Werderman, president of I-Bus, "Our partnering relationship with Siemens ElectroCom allows us the opportunity to solidify our presence in the file server market. As we continue to provide industry-defining solutions, we expect additional wins with major companies like Siemens."
I-Bus is an ISO 9001 quality certified world leader in the design, manufacture and support of high performance CPU boards, backplanes, and enclosures based on passive backplane and CompactPCI technology for industrial-grade computer systems. I-Bus offers a line of standard catalog products as well as customized, partnership-oriented services focused on meeting the needs of OEMs including purchasing partnerships, stable supply, configuration control, complete system integration and test services.
Maxwell Technologies is a leader in pulsed power technologies, providing pulsed power based systems and components for a wide range of commercial applications and research and development for both commercial customers and the U.S. government. The company's advanced technology solutions address diverse markets such as utilities, telecommunications, medical equipment and products, food processing and packaging and transportation.
The company also offers industrial computers and subsystems, primarily to OEMs in computer telephony and other markets, and software products and services, both for government research and for various commercial applications.
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including product development based on new technologies, applications and acceptance of new products in major markets, demand for the OEM's product reaching anticipated levels, the impact of competitive products and pricing, risks and uncertainties involved in foreign operations, and other risks detailed from time-to-time in the company's SEC reports, including the report on Form 10-K for the year ended July 31, 1998. Actual results may differ materially from those projected. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.
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