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Technology Stocks : SmartFlex Systems (SFLX) - Blitzkrieg or Sitzkrieg? -- Ignore unavailable to you. Want to Upgrade?

To: kolo55 who wrote (735)	12/4/1998 2:40:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 848

Paul, Thanks for the info. There's a copy of the company press release (issued by Business Wire) on Yahoo now which contains a few more details. It seems that SFLX has been busy expanding recently. To me, this is an omen of good things to come. ... and hopefully soon. Ian. biz.yahoo.com Smartflex Systems Signs Definitive Agreement to Acquire Assets From Tanon Manufacturing, Inc. TUSTIN, Calif.--(BUSINESS WIRE)--Dec. 3, 1998--Smartflex Systems, Inc. (Nasdaq:SFLX - news) announced today that it has entered into an agreement with Tanon Manufacturing, Inc. (''Tanon''), a wholly owned subsidiary of EA Industries Inc., to purchase certain assets of Tanon out of bankruptcy. Earlier today Tanon filed a petition for reorganization under Chapter 11 of the Bankruptcy Code and will immediately seek approval of the acquisition by the Bankruptcy Court. Tanon, which has facilities in West Long Branch, N.J. and Fremont, Calif. provides contract manufacturing electronic services, for quick turn, prototype, and high-mix, intermediate volume products to the telecommunications, industrial controls, performance printing, and medical marketplaces. ''Like Smartflex's acquisition, announced yesterday, of the assets of EA Industries' Methuen facility, the acquisition of Tanon's assets is an important part of our diversification strategy, in expanding our customer base and securing strategic manufacturing locations,'' said Smartflex's chief operating officer, Tony Richardson. ''For example, we believe the Fremont location will provide strong value-chain support to our recently acquired Logical Services subsidiary. Recently, Tanon has lacked the working capital needed to meet the demands of its customers. With our help, we believe that Tanon can now capitalize on its many core competencies,'' Richardson added. Smartflex Systems, Inc., headquartered in Tustin, Calif., is an electronics manufacturing services (EMS) expert in precision, automated manufacturing. Smartflex services optimize and accelerate product realization -- the process from product concept through volume manufacturing. Specializing in precision interconnect-based packaging enables Smartflex to design and manufacture significantly smaller products at reduced cost. Smartflex's specialty manufacturing skills allow the company to help its telecommunications, computer, and medical electronics customers meet their goals of smaller packaging, reduced cost, and faster delivery to the marketplace. Smartflex serves customers worldwide from its factories and technology centers in Cebu, Philippines; Monterrey, Mexico; Singapore; Santa Clara, Calif.; and Tustin, Calif. For more information contact the company's Web site at smartflex.com. ...