Continental Circuits Corp. and Sigma Circuits Inc. discontinue merger discussions.PHOENIX--(BUSINESS WIRE)--Dec. 19, 1996--Continental Circuits Corp. (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 :CCIR See ITU. ) today announced that its letter of intent to acquire Sigma Circuits Inc. (NASDAQ:SIGA SIGA Saskatchewan Indian Gaming Authority SIGA Simplified Improved Gaussian Approximation SIGA Special Interest Group in Andrology (ESHRE) SIGA Silizium, Galvanik Und Abformung SIGA Sunshine in Government Act of 1976 ) has expired and that discussions between the two companies have been discontinued. Continental Circuits Chairman and Chief Executive Officer Frederick G. McNamee said: "While we continue to feel that Continental Circuits would benefit strategically from acquiring Sigma, we were unable to reach agreement on several key items and, therefore, could not proceed to a definitive agreement. However, we remain firmly committed to our strategy of becoming a one-stop-shop for electronic interconnect solutions, and we will continue to explore other opportunities aggressively that would enable us to realize that objective, including similar acquisitions. In the interim, we will continue to expand our quick-turn capabilities in buildings recently purchased on our corporate campus in Phoenix." Continental Circuits Corp. manufactures complex, multilayer circuit boards used in sophisticated electronic equipment produced by leaders in the computer, communications, instrumentation and industrial controls industries. "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: This news release contains forward-looking statements that involve risks and uncertainties and actual results may differ materially from the above forward-looking statements due to a number of important factors, including, but not limited to, the ability of management to integrate the two companies successfully, the ability of Continental Circuits to implement its growth strategies effectively, the continued growth of the markets served by the companies, the timing and volume of orders, and product mix and capacity utilization Capacity Utilization measures the rate at which a firm makes use of their capital productive capacities, such as factories and machinery. Capacity Utilization generally rises when the economy is healthy and falls when demand softens. . These factors are fully discussed in the companies' regular financial filings with the Securities and Exchange Commission. CONTACT: Continental Circuits Corp., Phoenix Lee A. Small or Joseph G. Andersen, 602/268-3461 or Silverman Heller Associates, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Lou Alkana, 310/208-2550 |
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