Bridge Technology, Inc. To Initiate Manufacturing In China.Business Editors and High-Tech Writers GARDEN GROVE Garden Grove, city (1990 pop. 143,050), Orange co., S Calif., a suburb of Long Beach and Los Angeles, on the Santa Ana River; founded 1877, inc. 1956. Many of its residents work in nearby aerospace and defense installations, and there is light manufacturing. , Calif.--(BUSINESS WIRE)--Dec. 14, 2000 Bridge Technology, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BRDG BRDG Bridge ), a diversified digital data storage and communications component company, today announced an agreement to lease a new manufacturing facility adjacent to Shanghai in the Free Trade Zone of Ningbo, China. The new 110,000 square foot facility, which will include 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 ), automatic insertion machines, automatic testing and burn-in equipment will be certified ISO- iso- or is- pref. 1. Equal; uniform: isobar. 2. Isomeric: isopropyl. 3. 9000 for quality and ISO-14000 for environment. "This agreement is consistent with our stated strategies in the September 22nd release," commented Bridge Technology President John J. Harwer. "With an initial investment of $3 million, Bridge Technology's manufacturing and labor costs should be significantly reduced, thereby enhancing profitability for our core business." Production should commence in March 2001 with initial staffing of approximately 300 employees expanding to 800 at full operation. The Ningbo plant will augment the company's US based Autec Power Systems division, manufacturing power supply units in mass production for global distribution. Bridge Technology's initial investment of $3 million is expected to increase to $10 million over the next three years while the company enjoys tax-free status for a 5-year period. About Bridge Technology Bridge Technology, Inc. manufactures, markets, and distributes subassembly sub·as·sem·bly n. pl. sub·as·sem·blies An assembled unit forming a component to be incorporated into a larger assembly. digital recording, storage and communication components. The company, with subsidiaries in the United States, Japan and Hong Kong, is also a design innovator for the data, voice, multimedia, Internet and wireless communication industries. More information on Bridge Technology, Inc. may be obtained over the Internet at www.bridgeus.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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: The statements contained in this release, which are not historical facts, may be deemed to contain forward-looking statements including, but not limited to, deployment of new services, growth of the customer base, and growth of the service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing, or other factors. Deviation may result from risk and uncertainties, including, without limitation, the company's dependence on third parties, market conditions for the sale of services, technical factors affecting networks, availability of capital, and other risks and uncertainties. The company disclaims any obligation to update information contained in any forward-looking statement. |
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