Constellation 3D, Inc. and the Government of the Free State of Thuringia, Germany, Sign Letter of Intent.Business Editors/Technology Writers NEW YORK--(BUSINESS WIRE)--May 10, 2000 Constellation 3D Constellation 3D (C3D or CDDD)[1] was a company developing a new optical medium; the Fluorescent Multilayer Disc and Card (FMD/C).[2][3][4] , Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : CFMD) ("C3D A technology developed at the Turing Institute, Glasgow, Scotland for creating 3D models. Using two cameras to obtain stereo images, C3D turns subjects into 3D models in AutoCAD, 3D Studio and virtual reality formats for Internet use. " or the "Company") announced today it has signed a Letter Of Intent with the Government of the Free State of Thuringia and the City of Altenburg (Thuringia, Germany) to establish manufacturing and research & development facilities in Altenburg. This will be done through a new company, C3D-Thuringia GmbH ("C3D-Thuringia") that will be incorporated later this year. C3D-Thuringia will be established by C3D with grants and State-guaranteed loans provided by the Government of Thuringia and additional investment from the industrial and financial community. It is anticipated that the project's total investment cost will be approximately 150 million DM over the next 3-4 years. A Research & Development ("R&D") facility will be set up in Altenburg to develop media and drive production prototypes based on C3D's Fluorescent Multilayer ClearCard(TM) technology, which will provide data storage capacities up to 4.7GB in a credit-card-sized carrier. The facility will also be used for R&D work on future generations of the ClearCard and other technologies developed by C3D. The Letter of Intent also provides for the establishment in Altenburg of a state-of-the-art manufacturing plant for FMC See fixed mobile convergence. products. "As the market demand grows for high-capacity data storage solutions such as those provided by Constellation 3D, Inc., it is essential to have efficient, large scale manufacturing facilities developing and producing both drives and media," said Dr. Eugene Levich, 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 C3D. "We are very excited to be working with the Government of Thuringia to create a world class manufacturing plant and associated R&D facility in Altenburg. The region hosts some of the leading optical data storage production facilities and technology research institutions in the world, making it a logical choice for establishing a facility, both in terms of the availability of potential strategic manufacturing partners and R&D talent and expertise," he said. Constellation 3D, Inc. develops advanced data storage products including the extremely high capacity, multi-layer FMD FMD foot-and-mouth disease. DVD-sized disc and the credit-card-sized ClearCard(TM). The company has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Florida and California, and laboratories in Israel and Russia. Constellation 3D, Inc. holds or has made applications for over 60 worldwide patents in the field of optical data storage. More information is available at www.c-3d.net. Statements contained in the news release that are not historical facts are forward-looking statements as that term is defined in 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. Such forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from expected results. THE SEC AND NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). HAVE NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. |
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