SI Diamond Technology, Inc. elects Robert Kline to board; Establishes new subsidiary SIDT Coatings Inc., created to sharpen focus on commercial coatings market.HOUSTON--(BUSINESS WIRE)--Sept. 6, 1995--At its regular monthly meeting, the board of directors of SI Diamond Technology, Inc. (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 :SIDT) elected C. Robert Kline as its newest member. Kline is currently chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of SIDT. He assumed that post earlier this year after having served as SIDT's VP of marketing and business development since June, 1994. Prior to joining SIDT, Kline was president of Horizon Battery Technologies, Inc., a joint venture of BDM International (McLean, VA) and Electrosource, Inc. (Austin, TX), serving at the same time as vice president of BDM, which he joined in 1992. Prior to 1992, Kline served as associate director of government programs with the Microelectronics and Computer Technology Corporation (body) Microelectronics and Computer Technology Corporation - (MCC) One of the first, and now one of the largest, US computer industry research and development consortia. (MCC (The Microelectronics and Computer Technology Corporation, Austin, TX) The first high-tech research and development consortium in the U.S., created in 1982 by leading companies within the electronics industry. ), managed a successful information systems and business development consulting practice, and served as an associate professor at The University of Texas at Austin “University of Texas” redirects here. For other system schools, see University of Texas System. The University of Texas at Austin (often referred to as The University of Texas, UT Austin, UT, or Texas . The board also approved creation of a 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. -- SIDT Coatings, Inc., under which SIDT will consolidate existing business units that produce advanced ceramic coatings for cutting tools and wear resistance applications, and sophisticated coating equipment to deposit a wide variety of coatings for the optical, electronic and protective coatings industries. "SIDT Coatings will play an important role in the continuing development of the Diamond Field Emission Display (hardware) field emission display - (FED) A type of flat panel display in which field emitting cathodes bombard a phosphor coating causing it to emit light. A field emission display is similar to a cathode ray tube but only a few millimeters thick. System, as will Diamond Tech One, SIDT's advanced electronics packaging and assembly subsidiary," according to Howard K. Schmidt, chairman and CEO of SIDT. "Together, the three units represent a well integrated supply chain for the commercialization of the DFED and other display devices." Schmidt continued, "Furthermore, by creating SIDT Coatings, Inc., SIDT has reemphasized its commitment to the commercial coatings market. SIDT Coatings, Inc. will provide a focus for the expansion and further development of this vital business area." Houston-based SI Diamond is engaged in the development and commercialization of novel products based on enabling materials, including diamond and advanced ceramics. SIDT's four operating units include SIDT Coatings, Inc; Diamond Tech One, SIDT's subsidiary engaged in advanced electronic packaging and assembly (Austin, TX); Diamond Field Emission Displays, which is pursuing SIDT's development of the diamond field emission flat panel display A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time technology; and Sponsored Programs, which pursues opportunities for government funding to support new technology development. In addition to the NASDAQ, the company is traded on the Pacific and Boston exchanges under the symbol SDI. CONTACT: SI Diamond Technology, Inc., Houston Trey Fecteau, 713/529-9040 or GTT Communications, Austin Bill Stotesbery, 512/219-6339 |
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