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Technology Stocks : Elamex(ELAMF) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (219)	8/10/1998 8:16:00 AM
From: VALUESPEC	Respond to of 276

<<Bears also mauled Mexico's peso, whose benchmark contract closed at a record low of 9.0650/9.0725 per dollar.>> PESO losing more ground, as many know, is good for ELAMF as it makes them more competitive in the world, and also reduces costs. VALUESPEC valuespec.com

To: Paul Senior who wrote (219)	8/10/1998 8:19:00 AM
From: VALUESPEC	Respond to of 276

<<EL PASO, Texas, July 28 /PRNewswire/ -- Elamex S.A. de C.V. (Nasdaq: ELAMF), a leading Mexican contract manufacturer, today reported sales of $30.7 million for the second quarter ended June 28, 1998, a 9.3 percent decrease from sales of $33.8 million for the second quarter of 1997. Net income for the quarter was $1.0 million or $0.13 per share, down from $2.1 million or $0.29 per share for the same period in 1997. For the first half of 1998, sales declined to $59.0 million from $67.7 million in 1997. Net income fell to $1.6 million or $0.22 per share versus $3.8 million or $0.52 per share for the first half of last year. On a sequential basis, sales increased 8.3 percent from $ 28.3 million in the first quarter of 1998 and net income increased 47 percent from a base of $0.6 million during the same period. Hector M. Raynal, Elamex's Chief Executive Officer, said: "Although we still have not been able to reach sales and margins that compare favorably with those achieved during the first half of 1997, before two important projects ended, we saw improvement in our sales and net income results for this quarter over the first quarter of this year. We expect higher levels of sales to be achieved during the second half of the year, as we continue to ramp up our telecommunications project and begin work on three recently signed projects. Two of these projects will involve mechanical assembly and continue to expand the business areas served by Elamex. One project is in the durable goods sector and the other deals with consumer products. The third project is in consumer electronics, an area where we have also built considerable expertise." "To meet the anticipated demand of new and existing projects, we moved during the Quarter to increase our production capacity in electronics by 50 percent with the addition of two high speed SMT lines," Mr. Raynal added. "On a different front, our joint venture with GE Mexico S.A. de C.V. is putting in place the infrastructure necessary to support the anticipated growth of the plastics and metal stamping operations. Although this business partnership is not expected to make significant contributions until 1999, we anticipate that over the medium term it will represent a very important growth avenue for Elamex," said Mr. Raynal. Elamex is a Mexican contract manufacturing service provider. The Company delivers high quality finished assemblies to U.S. and Canadian Original Equipment Manufacturers (OEM's) in the consumer, telecommunications, computer, industrial, medical and automotive industries. Elamex participates in an accelerating growth industry, where its unique competitive advantage results from its demonstrated capability to leverage low cost, highly productive labor, strategic North American locations, recognized world class quality, and proven ability to combine high technology with labor intensive manufacturing processes. (This press release includes forward looking statements that involve risks and uncertainties, including, but not limited to, risks associated with the company's future growth and profitability, the ability of the Company to continue to increase sales to existing customers and to new customers and the effects of competitive and general economic conditions.)>>

To: Paul Senior who wrote (219)	8/10/1998 8:20:00 AM
From: VALUESPEC	Read Replies (1) \| Respond to of 276

EL PASO, Texas, July 14 /PRNewswire/ -- Elamex, S.A. de C.V. (Nasdaq: ELAMF) a leading Mexican manufacturer, agreed today to form a joint venture with GE Mexico S.A. de C. V., a subsidiary of the General Electric Company, based in Fairfield, Connecticut. The joint venture will be located in Juarez, Mexico and will be engaged in the production of plastic molding and stamped metal components. Hector Raynal, Elamex's Chief Executive Officer said, "This joint venture establishes a firm foundation for growth of Elamex and a basis for future cooperation with GE Mexico." "The joint venture will begin with a $10 million dollar commitment of business from GE and is expected to be ramped up over the next year," he continued. James Robo, CEO of GE Mexico said, "We look forward to our joint venture with Elamex as we leverage their considerable manufacturing skills together with our world class technology and our Six Sigma Quality program." The joint venture will begin production with an existing facility currently operated by Elamex. In addition to supporting GE, the joint venture will continue to look for opportunities within Elamex's client base. In connection with the joint venture, General Electric will receive a 3-year warrant to purchase up to 6.3% of Elamex's common stock exercisable at $7.81 per share subject to anti-dilution provisions. General Electric will have a right to have a representative on Elamex's Board. Elamex is a Mexican manufacturing service provider. The Company, in addition to production of plastic and stamped metal components delivers high quality finished assemblies to U.S. and Canadian Original Equipment Manufacturers (OEMs) in the consumer, telecommunications, computer, industrial, medical and automotive industries. Elamex participates in a high growth industry, where its unique competitive advantage results from its demonstrated capability to leverage low cost, highly productive labor, strategic North American locations, recognized world class quality, and proven ability to combine high technology with labor intensive manufacturing processes. SOURCE Elamex, S.A. de C.V. CO: Elamex, S.A. de C.V.; GE Mexico S.A. de C.V. ST: Connecticut, Texas, Mexico IN: FIN MNG SU: JVN 07/14/98 17:15 EDT prnewswire.com