VDC Signs Clinton Electronics Pact.ATLANTA -- 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 that an Agreement had been signed between the Company and Clinton Electronics Corp. (CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. ) of Loves Park, Illinois Loves Park is a suburb of Rockford, Illinois in Winnebago County, Illinois, United States. In recent years, the city spread across the eastern Winnebago county line and now reaches into Boone County, Illinois. The population was 20,044 at the 2000 census. , to combine the monochrome 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. ) operations of the two companies. As the transaction is structured, VDC will own and operate the combined business which will be situated in Clinton's plant in Illinois. The transaction does not affect any of the other CEC or VDC operations which shall continue to function as independent entities by the respective companies. Ron Ordway, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Video Display, stated, "The time is right for this combination of individual efforts. The monochrome CRT market is still a viable part of VDC's business, and teaming with CEC will strengthen our position overall." About Clinton Electronics Clinton Electronics has been a worldwide leader in monochrome CRTs used in video display products since 1964, today offering a complete line of CCTV security equipment as well as specialty CRT and flat panel displays and high technology monitors for military, medical, commercial and industrial applications. Its policy of same day service, innovative designs, and reputation for quality and service developed over the last 43 years enabled the company to stay ahead of its competition. Clinton remains a fourth generation family owned company and justifiably proud of its heritage. About Video Display Video Display Corporation designs, develops and manufactures unique solutions for display requirements for military, medical and industrial use with emphasis on high end training and simulation applications. Its product offerings include ruggedized AMLCD and CRT displays as well as projection systems utilizing VDC's Marquee(TM) and ESCP line of projectors. Video Display Corporation operates eight display design and manufacturing plants with additional sales facilities throughout the United States and Europe. For more information, visit the Company's web site at www.videodisplay.com. This document 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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