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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Mark Oliver who wrote (8608)	8/24/2000 10:18:49 AM
From: Mark Oliver	Read Replies (1) \| Respond to of 9256

Read-Rite Announces Qualification and Volume Shipments on Maxtor's New 15GB and 20GB Drive Programs August 24, 2000 08:46 AM Eastern Time FREMONT, Calif., Aug. 24 /PRNewswire/ -- Read-Rite Corporation RDRT today announced its GMR heads are qualified on Maxtor Corporation's DiamondMax Plus 45 hard disk drive program, a 15 GB per 3.5-inch platter 7200 rpm IDE drive and the DiamondMax 80 hard disk drive program, a 20 GB per 3.5-inch platter 5400 rpm IDE drive. Read-Rite is already in volume production and shipping GMR heads for these programs. "We are delighted to have been chosen as a key supplier by Maxtor on its launch of the exciting DiamondMax Plus line of 7200rpm drives and the record-setting DiamondMax 80 high-capacity drive," said Alan S. Lowe, president and chief executive officer. "These qualifications represent the fourth and fifth volume GMR programs with Maxtor this year. We look forward to continuing this strong working relationship with Maxtor on future programs." The company noted that these GMR heads, both in the form of head gimbal assemblies (HGAs) and head stack assemblies (HSAs), will be manufactured out of its ISO 9002 and 14001 qualified production facility in Thailand. Read-Rite Corporation is one of the world's leading independent manufacturers of magnetic recording heads, head gimbal assemblies (HGAs) and head stack assemblies (HSAs) for disk drives and tape drives. The company is headquartered in Fremont, California and has operations in California, Japan, Thailand, the Philippines and Singapore. The company's home page on the world wide web can be reached at readrite.com . This news release contains statements which include forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and is subject to the "safe harbor" created by those sections. These statements include, but are not limited to, the company's expectation that it will continue its strong working relationship with Maxtor on future programs. The company's actual results for future periods could differ materially from those projected in such forward-looking information. Factors that could cause actual results to differ include, but are not limited to: the company's ability to sustain volume production cost-effectively and to maintain satisfactory yields; there may be a reduction, cancellation or rescheduling of orders from Maxtor Corporation, and the other factors described in the company's reports filed with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K for fiscal 1999 and quarterly reports on Form 10-Q for the first, second and third quarters of Fiscal Year 2000 ended December 29, 1999, April 2, 2000 and July 2, 2000, respectively. Read-Rite undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements. SOURCE Read-Rite Corporation