FIRST NEWS RELEASE FOR *PENC*, MORE TO COME:
Pen Interconnect Receives Initial Transdigital Order
TCC Currently Has $50 Million in Business Proposals Outstanding
IRVINE, Calif., March 4 /PRNewswire/ -- Pen Interconnect, Inc. (Nasdaq: PENC - news) announced today that it has received an initial order from Transdigital Communications Corp. (TCC) of Brea, CA for the manufacturing of its AudioFile and Media Data Loader systems for both its airline and cruise line applications. The Audio File is the first of a new generation of all digital products from TCC that will transform audio and video entertainment in the transportation and hospitality industries.
The order is the first of what is projected to be a significant quantity of units as TCC expands its product offerings into the transportation, entertainment and media industry where they have over $50 million in business proposals outstanding. Pen Interconnect, an ISO 9002 certified manufacturer, is currently in the final process of obtaining its FAA certification. Pen Interconnect's InCirT Technology Division will be the manufacturer for the TCC product lines.
Pen Interconnect and Transdigital Communications Corporation announced in December 1998 the signing of a letter of intent to merge. The combination of Pen Interconnect's manufacturing and design services capabilities and TCC's engineering and sales strengths are the main reason for the proposed merger.
Steve Fryer, Pen Interconnect's President, said, ''This is the initial order we have been working toward to establish our manufacturing and test procedures to implement the required processes at InCirT's factory in Irvine, CA. This is expected to be a major program supporting the Transdigital Communications' product line requirements. Pen has recently sold off two money losing divisions and is now focusing its efforts on the expansion of its contract manufacturing services business and the merger with Transdigital Communications.''
Richard Bertagna, President of TCC, indicated, ''We are tremendously excited about our approaching merger with Pen Interconnect and we view this first order as emblematic of the significant growth our two companies can achieve.''
Pen Interconnect, Inc. provides the total manufacturing solution including circuit design, board design from schematic, mechanical and product design, prototype assembly, volume board assembly, system services and end-user distribution. Pen Interconnect, Inc. has supported manufacturing facilities in California, Utah and China. For a complete on-line investor's package on the Company, visit virtalir.com or product data at pen-interconnect.com.
Transdigital Communications Corporation, an advanced technology company headquartered in Brea, California is a leading developer of all-digital solutions for the transportation industry. The Company's primary business is designing and installing a family of digital video and audio servers for the airline and cruise line industry that replace the high maintenance analogue tape based systems currently in use. The Company's technology also includes a satellite broadcast system that enables live TV to be presented on aircraft and which can be used to remotely load media onto the Company's servers.
|
