BMC announces approval of new polycarbonate facility.MINNEAPOLIS--(BUSINESS WIRE)--Aug. 14, 1996--BMC Industries, Inc. today announced approval by its Board of Directors of plans to construct a new 150,000 square foot facility in Ramsey, Minnesota Ramsey is a city in Anoka County, Minnesota, United States. The population was 18,510 at the 2000 census. Geography According to the United States Census Bureau, the city has a total area of 77.0 km² (29.7 mi²). 74.6 km² (28.8 mi²) of it is land and 2.5 km² (0. (a Minneapolis suburb) by its Vision-Ease Lens subsidiary. BMC (BMC Software, Inc., Houston, TX, www.bmc.com) A leading supplier of software that supports and improves the availability, performance, and recovery of applications in complex computing environments. anticipates that the new facility will require a total investment of approximately $10 million, which will be financed through the use of internally generated cash and bank debt. This new, state-of-the-art facility will provide Vision-Ease with improved space for the manufacture of polycarbonate A category of plastic materials used to make a myriad of products, including CDs and CD-ROMs. eyewear lenses, centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. distribution and increased research and development activities. Construction on the new facility will begin later this year and will be completed during the third quarter of 1997. Paul B. Burke, BMC's Chairman and Chief Executive Officer, stated, "This investment in a new manufacturing, distribution and research and development facility shows our confidence in the Vision-Ease team and their prospects for the future. A very important objective of this facility is to provide Vision-Ease with the additional space and layout requirements needed to implement an advanced polycarbonate manufacturing process. We believe that this advanced process will increase yields and improve efficiencies, enhancing its position as the low-cost producer of high quality polycarbonate eyewear lenses. This investment also shows our confidence that polycarbonate lenses will continue to be a high growth segment of the ophthalmic ophthalmic /oph·thal·mic/ (of-thal´mik) ocular (1). oph·thal·mic adj. Of or relating to the eye; ocular. Ophthalmic Pertaining to the eye. lens market." "Another important goal served by this facility will be the ability to significantly expand our research and development activities. The world class space provided in this new facility will give Vision-Ease the physical resources necessary to pursue further improvements and discoveries in manufacturing processes, new products and new materials, including anti-reflective coated lenses." BMC Industries, Inc., is one of the world's largest manufacturers of aperture masks for color television tubes Noun 1. color television tube - a television tube that displays images in full color color tube, color TV tube, colour television tube, colour tube, colour TV tube and computer monitors. The Company is also a leading producer of polycarbonate, glass and plastic eyewear lenses. BMC's common stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "BMC". CONTACT: BMC Industries, Inc. Michael P. Hawks, 612/851-6030 |
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