Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : INVX Innovex Comdex Winner !! -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (2706)	10/7/1998 8:56:00 AM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 3029

Wednesday October 7, 8:30 am Eastern Time Company Press Release SOURCE: Sheldahl, Inc. Sheldahl Announces Volume Production Orders For New Technology; Seagate Selects Novaflex(R) VHD For Cheetah Disc Drive NORTHFIELD, Minn., Oct. 7 /PRNewswire/ -- Sheldahl, Inc. (Nasdaq: SHEL - news), today said that Seagate Technology, Inc. (NYSE: SEG - news), a leading provider of technology and products that enable people to store, access and manage information, had placed production orders for three different applications using Sheldahl's proprietary Novaflex VHD (very high density) product. The new flexible circuit technology accommodates the electronics industry's drive toward miniaturization, which requires circuitry with ever-smaller vias (holes) and spaces for the greatest possible density and performance. The Sheldahl product, which allows for the direct attachment of semiconductor chips onto a flexible circuit, is ideally suited to the disc drive and other high-end segments. Sheldahl estimates the potential market size for its new product to be $250-300 million and growing at a projected rate of 30 percent per year. Volume order production underway at Sheldahl's Longmont plant Johnny Lau, Seagate Vice President & General Manager of PCBA Operations in Singapore, said, ''The high volume and high-density capabilities of Sheldahl's Longmont, Colorado facility provide Seagate with interconnection solutions to meet the increasing demand for disc drive performance.'' Seagate's award- winning Cheetah drive was the industry's first 10,000 RPM disc drive. Sheldahl said that volume circuit production for the first of its Seagate orders is currently underway at its Longmont, Colo. facility, with final fabrication taking place at its Northfield, Minn. facility. Novaflex VHD to make sizable revenue contribution in fiscal 1999, open new markets for Company's core business ''We are extremely pleased to be able to provide Seagate with technology that supports its aggressive disc drive performance goals,'' said Ed Lundstrom, Sheldahl's President. ''The market acceptance of our Novaflex VHD product by Seagate and other target market segments has been most gratifying. And we are very pleased that our first volume production orders are for high demand chip- on-flex and semiconductor packages. We expect that this new high-value product will contribute in excess of $5.0 million in revenues in fiscal 1999,'' he concluded. Sheldahl is a leading producer of high-density substrates, high-quality flexible printed circuitry, and flexible laminates, primarily for sale to the automotive electronics and datacommunications markets. The Company, which is headquartered in Northfield, Minn., has operations in Northfield; Longmont, Colo.; Detroit, Mich.; South Dakota; Toronto, Ontario, Canada; Chihuahua Chih., Mexico; and sales offices in Hong Kong, China, and Mainz, Germany. Sheldahl's common stock trades on the Nasdaq National Market tier of the Nasdaq Stock Market under the symbol: SHEL. Sheldahl news and information can be found on the World Wide Web at sheldahl.com. Statements contained here, other than historical data, may be forward- looking and subject to risks and uncertainties including, but not limited to, those set forth in the Company's annual report, 10K, 10Q, and other SEC filings.