Iomega to Purchase World-Class Manufacturing Site in Malaysia.ROY, Utah--(BUSINESS WIRE)--July 18, 1996--As part of its manufacturing strategy to expand production capabilities worldwide, Iomega 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 : IOMG) today announced it has entered into an agreement to purchase a hard-drive manufacturing facility in Penang, Malaysia from Quantum Corp. The plant will serve as an additional manufacturing site for Iomega's Jaz drives See Jaz disk. (hardware, storage) Jaz Drive - Iomega Corporation's drive which takes removable one or two gigabyte disk cartridges which contain conventional hard disks. and disks initially, with the intent to eventually broaden production to other Iomega products. The facility has the capital equipment and manufacturing infrastructure in place for the production of Iomega Jaz drives The Jaz drive was a removable disk storage system, introduced by the Iomega company. It has since been discontinued. These drives initially came in 1 and 2 GB sizes, which were a significant increase over Iomega's most popular product at the time, the Zip drive. and disks. The addition of this high-volume facility is designed to increase Iomega's manufacturing efficiencies and contribute to the company's strategy to drive product costs down. "The purchase of this manufacturing facility is a winning decision on all fronts. We can hit the ground running with an established production facility and a skilled labor force in place, which will allow us to move forward quickly. In addition, the facility is in proximity to some of our key component suppliers," said Reed Brown, vice president of worldwide manufacturing at Iomega. "With our Penang manufacturing facility, we're well-positioned to maintain the quality and unprecedented value of our products." The Malaysian site is a 376,000 square-foot facility that includes a state-of-the-art 36,000 square-foot clean room. Iomega Jaz drive and disk production in Penang is expected to begin in the third quarter of 1996. Iomega Corp. provides personal computer storage solutions that help people manage their computer stuff -- anywhere. These solutions include: Zip drives See Zip disk. (hardware, storage) Zip Drive - A disk drive from Iomega Corporation which takes removable 100 megabyte hard disks. Both internal and external drives are manufactured, making the drive suitable for backup, mass storage or for moving files between computers. and disks; Jaz one-gigabyte drives and disks; Ditto tape backup Using magnetic tape for storing duplicate copies of hard disk files. Users can add an internal or external tape drive to their desktop computers for backup purposes, and files are typically copied to the tapes using a backup utility that updates on a periodic schedule. drives and tape cartridges See cartridge. ; and the Bernoulli line of removable drives (1) A device that spins, reads and writes an optical disc, hard magnetic disk or floppy (magnetic) disk, which is inserted into the unit by means of a drive tray or cartridge slot. Examples of removable drive media are CDs, DVDs, REV disks and Zip disks. See removable disk. and disks. Used in homes, business, government and education, and by creative professionals, Iomega storage solutions are available through computer retail stores, resellers and major distributors. The company can be reached at 800/MY-STUFF (800/697-8833) or on the worldwide web at www.iomega.com. -0- Note to Editors: Iomega and Bernoulli are registered trademarks of, and Zip, Ditto, Jaz and the Iomega logo are trademarks of, Iomega Corp. All other product and brand names are the property of their respective companies. CONTACT: Iomega Corp. A. Cory Maloy, 801/778-3712 Investor Relations Investor relations The process by which the corporation communicates with its investors. Department, 801/778-3585 or Copithorne and Bellows Susan Breshears, 415/975-2216 or Kalt-Rosen Howard Kalt, 415/397-2686 (Investor Relations) |
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