MICRON TECHNOLOGY INC. ANNOUNCES FORMATION OF MICRON INVESTMENTS INC.
BOISE, Idaho, Sept. 23 /PRNewswire/ -- Micron Technology Inc. (NYSE: MU), today announced the formation of a new subsidiary, Micron Investments Inc. This subsidiary will make private equity investments in firms with the potential for attractive returns on investment. Initially, the new subsidiary plans to target investments in high-tech companies developing electronic products and technologies, such as system-level hardware, software, and semiconductors. According to Charles W. Tillinghast, who will serve as president and chief executive officer of Micron Investments Inc., "Micron Investments Inc. can offer business experience and technological expertise to other start-up companies while sharing in the benefits of independent technological innovation." Tillinghast came to Micron Technology in 1986 as a product marketing manager. He has participated in two new product lines and has been closely involved in restructuring several Micron Technology Inc. subsidiaries. He has a masters of business administration from Harvard Business School and a bachelors degree from Brown University. Tillinghast is also a commissioner on the Board of Parks and Recreation for the City of Boise. The remainder of the board of Micron Investments Inc. will be composed of James W. Garrett, president, chief operating officer and a director of Micron Technology Inc.; Robert A. Lothrop, retired senior vice president of the J.R. Simplot Co. and presently a director of Micron Semiconductor Inc.; and Gordon C. Smith, president and chief executive officer of the J.R. Simplot Co. and a director of Micron Technology Inc. Companies that are interested in applying for funding should submit a comprehensive business plan to Charles W. Tillinghast, president and chief executive officer, Micron Investments Inc., 2805 E. Columbia Rd., Boise, ID 83706. For more information contact Charles W. Tillinghast at 208-368-4100. Micron Technology Inc., based in Boise, is a holding company whose common stock is traded on the New York Stock Exchange, Inc. (NYSE) under the symbol MU. The company's primary subsidiary, Micron Semiconductor Inc., manufactures and markets DRAMs, fast SRAMs, and other semiconductor products. -0- 9/23/93 /CONTACT: Kipp Bedard of Micron Semiconductor Inc., 208-368-4400/ (MU)
CO: Micron Technology Inc. ST: Idaho IN: CPR SU:
JH -- SE013 -- 5396 09/23/93 17:00 EDT
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|Date:||Sep 23, 1993|
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