Comdisco, Itochu Form New Company.ROSEMONT, Ill.--(BUSINESS WIRE)--Sept. 30, 1997-- New venture to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. growing semiconductor asset management market in Asia Comdisco, Inc. (NYSE NYSE See: New York Stock Exchange :CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the ), a leading technology services firm in the U.S., today announced that its electronics division has formed a joint venture company with Itochu Corporation, one of Japan's leading general trading companies. The new company, which will be called ComIto Equipment Management Services, will be located in Japan to serve the approximately $10 billion Japanese semiconductor test and assembly equipment market. The equipment management services provided by the joint venture will include leasing of new and used equipment, sale/leaseback of currently installed equipment, remarketing surplus equipment, and sale or lease of reconditioned re·con·di·tion tr.v. re·con·di·tioned, re·con·di·tion·ing, re·con·di·tions To restore to good condition, especially by repairing, renovating, or rebuilding. equipment. Comdisco will provide its experience in the equipment management field to the new joint venture and will expand the business aggressively in Japan using Itochu's existing sales channels. The new company will be located in Tokyo and has initial paid-in capital Paid-in capital Capital received from investors in exchange for stock, but not stock from capital generated from earnings or donated. This account includes capital stock and contributions of stockholders credited to accounts other than capital stock. of approximately $4 million (Yen 490,000,000). Comdisco's investment is 60 percent and Itochu Corporation's investment is 40 percent of paid-in capital. Paul Marouko, a Comdisco employee, has been named 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. to head the venture. The new company will initially start with employees contributed by both Itochu and Comdisco. "Comdisco is very pleased to be partnering with a company of the caliber of Itochu," said Jack Slevin, Comdisco's chairman, president and chief executive officer. "As the world's second largest market for semiconductor production, automated test, and integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for assembly equipment, Japan is a critical market for Comdisco. By working with Itochu, we will be able to gain market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" because of their excellent sales channels and outstanding reputation." "There is a large and growing demand for equipment management services in the Japanese market," said Mr. Ose, general manager, Mechatronics (MECHAnics elecTRONICS) The combination of mechanical and electronic systems. Embracing robotics, industrial control systems and human interfaces in numerous disciplines, mechatronics is a major step beyond "electromechanical," in which only electricity is required. Department, Itochu Corporation. "By joining with Comdisco, the leader in the U.S. and Asia in providing these services, we can provide our customers with new and innovative solutions that will reduce their cost and risk of equipment use." Manufacturing equipment is a large portion of the investment in new and existing wafer fabrication facilities. Whether a manufacturer is using 8-inch technology, or the soon to be introduced 12-inch technology, Comdisco will provide flexible, cost-effective equipment management solutions to changing market conditions. Comdisco Electronics Group currently manages in excess of $1.2 billion (new equipment cost) of electronic manufacturing equipment. "The global market for technology services continues to expand rapidly," said Slevin. "This strategic initiative in a key international market represents a significant step for Comdisco, and provides us with the opportunity to offer international customers a broad range of integrated technology-related services to reduce cost and risk." About Itochu Corporation Founded in 1858, Itochu is one of Japan's best known "sogo- shosha" or general trading companies and, by sales, consistently ranks among the five largest companies in the world. Consolidated sales in the fiscal year ended March 31, 1997, topped U.S.$135 billion. About Comdisco Comdisco, Inc. (NYSE:CDO), a technology services company, is one of the world's leading providers of solutions that help organizations reduce technology cost and risk. These services include asset management; business continuity; network services; and equipment leasing. Comdisco's revenue totaled $2.4 billion for the fiscal year ended September 30, 1996. Comdisco Electronics Group, a division of Comdisco, Inc., provides equipment leasing, reconditioning and remarketing, technology assessment and equipment purchases for companies in the electronics industry. CEG (Continuous Edge Graphics) A VGA RAMDAC chip from Edsun Labs that adds anti-aliasing on the fly. It can also calculate intermediate shades, thus providing thousands of colors on an 8-bit board that normally generates only 256 colors. , which is headquartered in San Diego, operates one of the industry's largest electronics equipment reconditioning and demonstration facilities, located in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. . CONTACT: Comdisco, Rosemont Mary Moster, 847/518-5147 or Itochu Corporation, Tokyo Mitsuo Takahashi, (03)3497-2415 |
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