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Quantegy Inc., formerly Ampex Media Corporation, starts new chapter in company's 35 year history; Quantegy will continue to manufacture and market Ampex brand professional audio, video, and instrumentation media products.

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Nov. 14, 1995--The newest and brightest professional media star was born today, as Ampex Media Corp., formerly part of Ampex Corp., officially became an independent company with a new name, owned 100% by a new group of shareholders that includes affiliates of The Equitable Life Assurance Society of The United States.

Henceforth to be known as Quantegy Inc., the company begins its new chapter of independence with annual sales exceeding $150-million, 35 years of leadership experience, a host of industry breakthroughs, the number one market share in professional audio tape products, a comprehensive line of new format professional videotape products, the leading instrumentation product line that is relied upon by government and space agencies worldwide - and the enthusiasm of over 1,000 employees who are dedicated to serving the needs of professional media users around the world, in all major creative applications.

"We are the only company exclusively dedicated to professional media markets worldwide," Quantegy President and Chief Executive Officer Thomas J. Wheeler stated today. "As creative professionals search the world in their effort to provide information and entertainment, Quantegy will be their media partner wherever they go. Our job is to instill within our customers a feeling of trust, reliability and dependability in our products and services so that they can focus on their business. We don't just sell media, we are partners in the pursuit of success."

In announcing the formation of Quantegy, Wheeler emphasized that, as a practical matter, customers will continue to do business with Quantegy just as they did in the past with Ampex Media Corp. Even the use of the Ampex brand name on packaging will continue, Wheeler explained. "Quantegy retains the rights to use the Ampex brand name on all of its professional media products. This means that our customers can count on the same high standards of quality, and they can continue to buy the same high quality media products they have always purchased."

Quantegy owns and operates the Opelika, Alabama manufacturing center. It also continues to operate an established worldwide network of regional sales and marketing offices, providing Ampex brand media products that customers around the world have come to rely on for excellence in their creative applications. Quantegy will remain at its current address in Redwood City, until next year, when it will open its new headquarters at a location to be announced.

"We know that the changes to our company will be good for customers," Wheeler emphasized. "We want the professional user to know they have a partner dedicated to providing them with the tools they need at a low cost of ownership and a maximum of convenience."

Underscoring this point, Wheeler pointed to the significant investments that have been made in the company's manufacturing technology. "Over the last five years we have invested over $30-million in new manufacturing technologies that enable us to offer the latest metal particle products in the most advanced recording systems. This positions us well to change right along with customer's technology," Wheeler emphasized.

The Quantegy management team is now surveying the entire professional media landscape, developing new product and market opportunities. "The entire industry we serve is increasingly becoming dominated by computer based recording and editing systems," Wheeler explained. "Now we have the ability to focus on all the various formats that are evolving to assist customers in their endeavors as creative professionals. The digital explosion and the merging of technologies will provide us the opportunity to use our investments in product development and manufacturing to deliver the many new products required."

"We stand at the threshold of an exciting change with a proven history of success. We have the assets, tools and people to make a significant, positive contribution to this evolving future. Quantegy will be providing the media and services to the creative professional no matter which direction the technology takes, and we are excited to be part of this dynamic era," Wheeler said. "Today we introduce Quantegy. After 35 years in business, we are just getting started."

Quantegy Inc., headquartered in Redwood City is the manufacturer and marketer of Ampex brand professional audio, video and instrumentation media products. The company serves professionals in the entertainment, education, communications, aerospace and government markets.

CONTACT: Griffin Public Relations

Bob Griffin, 212/255-8491
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Publication:Business Wire
Date:Nov 14, 1995
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