Aavid Thermal Technologies announces management change.CONCORD, N.H.--(BUSINESS WIRE)--April 4, 1997--Ronald F. Borelli, chairman and chief executive officer of Aavid Thermal Technologies, Inc. (Nasdaq: AATT AATT Advanced Air Transportation Technologies (NASA air traffic control project) AATT Advanced Aviation Transportation Technology AATT Advanced Air Traffic Technologies (US FAA) AATT Absolute Arrival Time Technique ), has expanded his role at the company's thermal products subsidiary, Aavid Engineering, Inc. of Laconia, NH. Borelli, who already is the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Aavid Engineering, now will also assume the position of president - consolidating the senior management function. This has resulted in the company's decision not to renew D. Max Henderson's contract, which was in its last year. Borelli said, "Over my first six months with Aavid I have become very confident of where we need to take the thermal management business. We are streamlining management as part of our goal to deliver increased shareholder value." Borelli became chairman and chief executive officer of Aavid Thermal Technologies, Inc. and CEO of Aavid Engineering last October. Over the prior thirty years he had filled executive and operating management positions at Spectra Inc., SCI (Scalable Coherent Interface) An IEEE standard for a high-speed bus that uses wire or fiber-optic cable. It can transfer data up to 1GBytes/sec. (hardware) SCI - 1. Scalable Coherent Interface. 2. UART. Systems, and Honeywell. Borelli stated, "I am pleased to report that trends in Aavid's business remain positive. On a preliminary basis, we expect to report sequential increases in sales and earnings for the quarter that ended March 31, 1997 over the fourth quarter of 1996. Final financial results for the quarter will be reported later this month." Company Background Aavid Thermal Technologies is listed on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (AATT) following its initial public offering in February 1996. Aavid serves a highly diversified range of markets, principally in North America, Europe and the Far East. 1996 sales, which totaled approximately $107 million, were driven by the principal industries served by Aavid including: computers (20%), modeling and analysis software (20%), transportation (15%), telecommunications (16%) power supplies and uninterrupted power supplies (16%) and motor controls and power conversion (13%). Today, at its leading edge, Aavid is the world leader in sophisticated CAE (1) (Computer-Aided Engineering) Software that analyzes designs which have been created in the computer or that have been created elsewhere and entered into the computer. (computer aided engineering (application) Computer Aided Engineering - (CAE) Use of computers to help with all phases of engineering design work. Like computer aided design, but also involving the conceptual and analytical design steps. ) modeling and analysis software. Design engineers use Fluent's CFD CFD - Computational Fluid Dynamics (computational fluid dynamics Computational fluid dynamics The numerical approximation to the solution of mathematical models of fluid flow and heat transfer. Computational fluid dynamics is one of the tools (in addition to experimental and theoretical methods) available to solve ) based software to optimize the design of products and manufacturing processes in a wide range of industries including combustion, chemical process, electronics, aerospace and food processing. The Fluent software models products in development in detail, faster than physical prototyping and testing, at an earlier stage in the design cycle, for less money, and with lower risk than traditional product and process design and development practices involving iterative design, prototype and test cycles. Aavid is also the world's leading provider of thermal management for dissipating potentially damaging heat in digital and power electronics products. Aavid's thermal products division is evolving from a North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. thermal component manufacturer, to a worldwide total solutions provider. More information on Aavid Thermal Technologies is available on the World Wide Web at http://www.aatt.com -0- "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 With the exception of historical information the matters discussed in this news release are forward looking statements that involve risks and uncertainties including, but not limited to, economic conditions in the semiconductor market, product demand and industry capacity, competitive products and pricing, and other risks indicated in Aavid's filings with the Securities and Exchange Commission. CONTACT: Aavid Thermal Technologies, Inc. Patrick J. Riley 603/224-1117 riley@aavid.com |
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