CP Clare Positions Company for Growth in Semiconductor Communications Solutions Market; Company Reorganizes Around Product-Based Business Units.Business/Technology Editors BEVERLY, Mass.--(BUSINESS WIRE)--March 27, 2000 As part of its strategic initiative to position the Company for future growth and market dominance Market dominance is a measure of the strength of a brand, product, service, or firm, relative to competitive offerings. There is often a geographic element to the competitive landscape. , CP Clare Corporation (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 :CPCL CPCL Chennai Petroleum Corporation Limited CPCL Computer Program Change Library CPCL Computer Program Control Library CPCL Component Prioritized Collection List ) today announced the realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. of its internal organization around product-based business units. The Company's aggressive move reflects its future direction and vision to become the leading global supplier of innovative semiconductor solutions for the next-generation of communications technologies. In a separate announcement today, the Company also unveiled that it will now be doing business as Clare; with a new logo and vision for the future. The Company intends to legally change its name to Clare, Inc. following its annual meeting in September 2000. "Today marks an exciting chapter in our history," said Arthur R. Buckland, Clare's 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. . "We've made aggressive organizational changes that allow us to focus on our core vision of providing unique technologies and solutions that enable connections along the Network's Edge. Today's changes also represent our commitment to embrace an ever-changing global market with unprecedented spirit and energy that will catapult our future growth." The new organization is the culmination of several key steps in the Company's evolution from a reed relay As a relay is a switch controlled by an electromagnet, so a reed relay is one or more reed switches controlled by an electromagnet. The contacts are of magnetic material; thus the electromagnet acts directly on them rather than requiring an armature to move them. supplier to an ASIC (Application Specific Integrated Circuit) Pronounced "a-sick." A chip that is custom designed for a specific application rather than a general-purpose chip such as a microprocessor. and high-voltage mixed signal integrated circuits (IC) company including the opening of a state-of-the-art high-voltage wafer fabrication facility, the acquisition of a fabless ASIC company (Micronix Integrated Systems) and most recently, the divestiture of the electromagnetic (EMG EMG abbr. electromyogram Electromyography (EMG) A diagnostic test that records the electrical activity of muscles. ) parts group. Representing the dynamic changes in the Company's vision and corporate identity, Clare's new organization is structured around product and market-based business units, which allow the Company to quickly address new trends and bring customer-driven products to market faster. The new Integrated Circuits (IC) product group is now run by Senior Vice President Dennis Cocco who will also remain as President of Clare Micronix, with new product management headed by Mark Heisig. In addition to his responsibilities as Clare President and CEO, Art Buckland will manage the optically isolated solid state relay A relay that contains no mechanical parts. All switching mechanisms are semiconductor or thin film components. group featuring Clare's OptoMOS(R) family of products. The Dyad dyad /dy·ad/ (di´ad) a double chromosome resulting from the halving of a tetrad. dy·ad n. 1. Two individuals or units regarded as a pair, such as a mother and a daughter. 2. group remains as an integral part of Clare's product portfolio due to high growth opportunities in the ever-increasing cellular phone market. Bill Miller, Vice President of Global Operations, is spearheading this effort. The realignment allows Clare to focus on the delivery of innovative integrated circuits (ICs) that will enable next-generation communications technologies and leverage its legacy of quality and service by: --Connecting the Company to its suppliers, customers and resellers through its new Web-enabled Oracle ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. system, that will enable advanced supply chain management, upcoming e-commerce capabilities and Clare's new corporate Web site - www.clare.com; and --Bringing revolutionary new products to market, including a Line Card Access Switch (LCAS LCAS Link Capacity Adjustment Scheme (SDH/SONET Virtual Concatenation) LCAS Lake County Astronomical Society (Illinois) LCAS Licensed Clinical Addictions Specialist ), next generation LiteLink products, Home Phone Networking (HPN Home parenteral nutrition (HPN) Long-term parenteral nutrition, given through a central venous catheter and administered in the patient's home. Mentioned in: Nutrition through an Intravenous Line ), xDSL, DAAs, EL- & OLED-Display Drivers, Ultra-mini Switches and more innovative new products. The Company will also be a supplier of second source products in the short term while maintaining a leadership position in the solid state relay market. "We have been intensely focused on transforming this Company," continued Buckland. "Our reorganization and Web site reflect the aggressive pursuit of an Internet-driven integrated circuit strategy. We believe this strategy will produce higher margins and growth in new markets, resulting in an increase in shareholder value." Moving forward, Clare will focus on providing analog and mixed-signal semiconductor solutions for the "Network's Edge": the interface between communications media and the Internet. In 2000, the Company will work to develop innovative IC solutions capable of dominating target niches in emerging communications markets such as home networking, DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary and telecommunications. To do this, Clare will capitalize on its unique expertise in high-voltage analog and mixed-signal design technologies and its history of successfully addressing the challenges of telephone line interface and barrier technology. This expertise positions Clare to deliver the key IC building blocks that equipment manufacturers need to meet growing market demands for communications devices that deliver increased bandwidth and greater convenience. About Clare Clare is a leader in the design and manufacture of high-voltage analog circuits. The Company's products enable communications by providing the critical interface between high-voltage electrical signals and the low-voltage electronics that process those signals. Leading manufacturers of data communications, telecommunications, and industrial equipment around the world rely on Clare for semiconductors and specialized electronic components. Clare trades on the NASDAQ exchange under the symbol CPCL. Additional information about Clare can be found at www.clare.com All references to new product development and corporate vision are forward-looking statements as defined under the federal securities laws. Actual results may differ from the information set forth herein and in no way guarantee anticipated future results. CP Clare Corporation d/b/a Clare. |
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