Cypress, Arrow Extend Relationship to Asia-Pacific Region.SAN JOSE, Calif.--(BUSINESS WIRE)--July 6, 1999-- Cypress Semiconductor Corporation (NYSE NYSE See: New York Stock Exchange : CY) today announced that it will extend its distribution agreement with Arrow Electronics, Inc. (NYSE: ARW ARW Air Refueling Wing ARW Advanced Research Workshop ARW Associated Resume Writers ARW Army Ranger Wing (Irish Special Forces) ARW American Revolutionary War ARW Angle Random Walk ARW Aeroelastic Research Wing ) to include the entire Asia-Pacific territory. Arrow is the world's largest distributor of electronic components and computer products. Under terms of the agreement, Arrow will sell Cypress's entire line of products in Australia, China, Hong Kong, India, South Korea, Malaysia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , Singapore, and Taiwan. Cypress sells a wide range of integrated circuits in the Asia-Pacific market, including memory products, computer clocks and microcontrollers, data communications products, Universal Serial Bus See USB. (hardware, standard) Universal Serial Bus - (USB) An external peripheral interface standard for communication between a computer and external peripherals over an inexpensive cable using biserial transmission. microcontrollers, and programmable logic devices (PLDs). "By expanding our longstanding relationship with Arrow, we aim to both increase our overall percentage of sales through distribution and to maximize growth in the highly strategic Asia-Pacific region," said Dan McCranie, Cypress's executive vice president, sales and marketing. "Arrow's strong customer relationships and excellent resources are an important addition to our sales force." "Cypress has a broad product portfolio and solid market positioning in the Asia-Pacific with particular strengths in computer products, such as clock chips and microcontrollers, in Taiwan, and specialty memories and point-to-point datacom products in China and South Korea," said Steve Menefee, senior vice president of worldwide marketing for Arrow and president of Arrow Asia. "We are pleased to add the Cypress line in the Asia-Pacific and look forward to strong customer acceptance." "Both Cypress and Arrow are committed to rapid growth and to providing increased customer support in the Asia-Pacific," said Rich Parker, Cypress's vice president of distribution. "Arrow's top-notch electronic ordering and EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. capabilities are another big plus that will expand our reach and make it easier for us to do business in the region." Cypress's sales in the Asia-Pacific region currently account for about 17% of total revenues, making it the company's second-largest revenue base behind North America. Cypress has direct sales offices in Taiwan, Hong Kong, China, and Korea. The sales offices are supported by teams of field applications engineers and by franchised distributors. Arrow Electronics is the world's largest distributor of electronic components and computer products, with 1998 sales of $8.3 billion. Headquartered in Melville, New York Melville is a hamlet and census-designated place in the town of Huntington in Suffolk County on Long Island, New York, in the United States. As of the 2000 census, 14,533 people resided there. , Arrow serves as a supply channel partner for more than 600 suppliers and 175,000 original equipment manufacturers and commercial customers through more than 200 sales facilities and 26 distribution centers in 35 countries. Detailed information about Arrow's operations can be found at www.arrow.com. Cypress Semiconductor Corporation, with international headquarters 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. , provides a broad range of products for leading computer, networking, and telecommunications companies worldwide. Its shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CY. The company's web site is http://www.cypress.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: Statements herein that are not historical facts are "forward-looking statements" involving risks and uncertainties. Please refer to Cypress's Securities and Exchange Commission filings for a discussion of such risks. |
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