Boundless to Provide Supply Chain Services to Comdial; Revenues from Agreement Expected to Exceed $20 Million.Business Editors HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Feb. 14, 2001 Boundless Manufacturing Services, Inc., a subsidiary of Boundless Corporation (AMEX AMEX See: American Stock Exchange : BND BND In currencies, this is the abbreviation for the Brunei Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), has signed a Supply and Asset Purchase Agreement to provide contract manufacturing and related services to Comdial Corporation of Charlottesville, VA (Nasdaq: CMDL CMDL Climate Monitoring and Diagnostics Laboratory CMDL Common Mission Data Loader ). Boundless Manufacturing Services (Boundless) provides supply chain solutions to technology companies within the $90 billion+ electronic manufacturing services (EMS) market. Boundless will perform manufacturing and other support services for Comdial in its Boca Raton, FL, based Surface Mount Technology (SMT (1) (Surface Mount Technology) See surface mount. (2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software. SMT - Station Management ) manufacturing facility. The anticipated revenue to Boundless, over the initial term of the agreement, is expected to exceed $ 20M. Joseph V. Joy, President, Boundless Manufacturing Services, Inc. said, "Comdial will be able to reduce its costs by leveraging manufacturing assets we have deployed in Boca Raton for both their phone and system products. Boundless will perform printed circuit board assembly, assembly and test of telephones, and supply chain support services. We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. at being selected as a manufacturing partner by such a fine company as Comdial and we expect to do a great job for them." Nick Branica, President and 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 Comdial commented, "I am extremely pleased that we have signed this agreement with Boundless and have taken this important step in regard to outsourcing the majority of our manufacturing operations. This is the last major milestone that Comdial needed to achieve to complete its planned restructuring efforts. Teaming up with Boundless will enable us to redirect our resources and expedite our strategy to focus on marketing, new product development, and engineering. We are pleased that Boundless is working closely with us to make this a very smooth transition ensuring the quality and availability of our products. This agreement is clearly a "win-win" opportunity for both Comdial and Boundless." "With this announcement, our EMS subsidiary, continues down the path we laid out over a year ago and will be well on its way to meeting its revenue plan for the year 2001," said Boundless Corporation's Chairman and CEO, J. Gerald Combs. "We have been working with numerous potential customers to bring new business into both the Boca Raton and Hauppauge facilities. As these additional agreements are signed or become imminent, we will release details of this organic growth that complements our activities for footprint expansion through acquisition." Boundless expects production to begin in its Boca Raton facility during Q1 2001. As part of the agreement, Boundless will acquire inventory from Comdial, and some specialized pieces of capital equipment used to assemble and test Comdial's products. ABOUT BOUNDLESS Boundless provides full-service build-to-order system assembly and printed circuit board assembly capabilities at its two ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9002 certified U.S. manufacturing facilities. These include 155,000 sq. feet in Hauppauge, NY and 77,000 sq. feet in Boca Raton, FL. Other services include product design services, supply chain optimization Supply Chain Optimization is the application of processes and tools to ensure the optimal operation of a manufacturing and distribution supply chain. This includes the optimal placement of inventory within the supply chain, minimizing operating costs (including manufacturing costs, , global supply base management, test development and deployment, distribution and logistics, repair centers, and end-of-life management. For 30 years, Boundless has manufactured high quality products and offered a full suite of post manufacturing and other support services. In the last decade, Boundless has excelled in build-to-order mass-customized manufacturing, a capability that has evolved into a key core competency that offers a significant competitive advantage and significantly decreased time-to-market for OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers. BMS BMS abbr. Bachelor of Marine Science currently builds products for OEMs including Lucent Technologies, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Wang Global, NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers , the Tandem and Digital Divisions of Compaq Computer, Hewlett-Packard and Stratus Computer. Boundless Manufacturing Services, Boundless Technologies and Merinta are subsidiaries of Boundless Corporation (AMEX: BND), which is headquartered in Hauppauge, New York Hauppauge (pronounced /hɔpɔg/) is a hamlet in the Town of Islip and the Town of Smithtown in Suffolk County, New York, United States. . Additional sales and distribution offices can be found throughout the U.S. and in Europe. For more information, visit the Boundless web site at http://www.boundless.com, or call 1/800-231-5445. ABOUT COMDIAL Comdial is a provider of integrated communications solutions. The Company's broad product line includes business communications, hospitality, assisted living, real estate, and call center solutions. For more information about Comdial and its products, please visit our web site at www.comdial.com. Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission. Editors: All company/product names and service marks may be trademarks or registered trademarks of their respective companies. |
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