Lexel Imaging to Acquire Anacomp Product Line.Business Editors ATLANTA--(BUSINESS WIRE)--Dec. 28, 2000 Lexel Imaging Systems, wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Video Display Corporation (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 : VIDE), today announced an agreement to acquire the Cathode Ray Tube See CRT. (hardware) cathode ray tube - (CRT) An electrical device for displaying images by exciting phosphor dots with a scanned electron beam. CRTs are found in computer VDUs and monitors, televisions and oscilloscopes. (CRT (1) (C RunTime) See runtime library. (2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons. ) manufacturing operations of the former DatagraphiX business unit of Anacomp (NASDAQ: ANCO ANCO Alternate Net Control Officer ). The Companies announced that an agreement had been reached whereby the Poway, California-based manufacturing equipment, inventories, intellectual property and all other assets of the Specialty Cathode Ray Tube and Electron Gun divisions are to be integrated into Lexel Imaging systems facilities in Lexington, Kentucky. Anacomp's DatagraphiX Charactron and other specialty CRTs for military and commercial applications are now concentrated primarily in the defense segment of display market. Its product and customer base supplements the existing Lexel line of Direct View Storage Tubes (DVSTs), HeadsUp, Heads-Down, Helmet, radar and other Avionic Cockpit and Infrared (FLIR) CRT and Displays currently in production in Lexington. As the recognized leader in Specialty CRTs and Displays, Lexel's history dates back to the 1930s as Allan B. DuMont Labs. Recently Video Display Corporation has consolidated its Industrial and Military Display operations with those previously owned by Hughes (NYSE NYSE See: New York Stock Exchange : GMH), Litton Industries (NYSE: LIT), Raytheon Corporation (NYSE: RTN), Westinghouse and others to form the industry's most complete engineering, design and manufacturing source for commercial, military and industrial CRTs and Displays. Video Display Corporation is a leading supplier of a complete range of Display Products and component parts for the Display industry. Its product line consists of a wide variety of electron optic parts for OEM cathode ray tube and monitor manufacturers, monochrome and color CRTs for medical, military, industrial and television applications, high and low end monochrome and color CRT and AMLCD (Active Matrix LCD) See active matrix. monitor displays for specialty high performance and ruggedized requirements and a complete array of replacement parts for the consumer electronics industry. Video Display is a publicly held Company (NASDAQ: VIDE) headquartered in Tucker, Georgia with 16 manufacturing and 7 warehousing and sales facilities in the United States, Mexico, United Kingdom and mainland Europe. This press release contains 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 statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. |
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