Printer Friendly

Symplex Communications Corporation Announces Restructuring.

ANN ARBOR, Mich.--(BUSINESS WIRE)--July 2, 1999--

Symplex(R) Communications Corporation (VSE:SYC.U.), a worldwide provider of custom Internet solutions, announced today a restructuring and consolidation of operations.

This action was necessary to eliminate duplication, streamline operations and provide greater customer service and support.

Gary Brock, Symplex Chief Executive Officer, stated "the actions taken today lowers our breakeven point and positions Symplex to capitalize on the successful introduction of the RO-2 and Datamizer 6." Mr. Brock went on to say, "combining our customer service organization with our Product Test Group, allows Symplex to provide even greater and more timely customer support. In addition, we are preparing the company, along with our manufactures, to implement a Just In Time (JIT) manufacturing and inventory system which streamlines operations."

The majority of the restructuring involves administrative and field service personnel. However, as a result of this restructuring, Andy Brzozowicz, Vice President of Sales, will become an independent sales consultant. Andy will continue to work strategic accounts and relationships on behalf of Symplex.

About Symplex Communications

Symplex, headquartered in Ann Arbor, Mich, manufactures network enhancement devices that provide cost savings, improved throughput performance, and reliability for enterprise networks. Symplex is best known for the Datamizer(R) line of data compressors that optimize leased lines, satellite links, and frame relay circuits. In addition to Datamizers, Symplex also manufactures the DirectRoute(R) line of switching access systems designed specifically for cost-effective high-speed Internet and intranet access. Founded in 1981, Symplex is the most long-standing internetworking solutions provider with a 17-year record of technological innovation. Symplex is a publicly held company, traded on the Vancouver Stock Exchange under the ticker symbol SYC.U.

The statements contained in this press release which are not historical in nature are forward-looking statements based on current expectations that involve risks and uncertainties. Symplex's actual results may differ materially from the results or expectations discussed in the forward-looking statements. Factors that might cause such a difference include risks associated with the effectiveness of the Company's sales and marketing strategies to reengage with its Datamizer installed based, its ability to raise additional capital, the appeal of the Company's family of products, and the ability of the Company to enter into strategic alliances and collaborate with others in the industry. These and other risks are detailed from time to time in the Company's reports filed with the SEC, including its Form 10-KSB for the year ended December 31, 1998 and its Form 10-QSB for the quarter ended September 30, 1998.

For more information, contact Symplex Communications at 734/995-1555 or on the Web at www.symplex.com.

Signed By:

Gary R. Brock President and CEO Symplex Communications Corporation

The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Jul 2, 1999
Words:470
Previous Article:APX Selected by Calpine to Schedule Geothermal Power to the California Independent System Operator.
Next Article:ICH Announces Second Quarter 1999 Dividend.
Topics:


Related Articles
Restructuring? Avoid the myths.
Symplex Reports Financial Results for the Third Quarter for 1999.
Symplex Communications Corporation Receives Datamizer Orders.
Symplex Announces European Datamizer Orders.
Symplex Communications Corporation Signs Licensing and Services Agreement.
Symplex Communications to Eliminate Bank Debt.
Symplex Software Completes Acceptance Testing.
Symplex Eliminates Bank Debt.
Symplex Announces Retirement of President and Chief Executive Officer.
Symplex Communications Appoints New Acting President and CEO.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters