Subject: READRITE FORMS FIBER OPTICS COMPANY!!!!!!!
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From: None <LISTMEMBER--@earthonline.com>
List: tech-pkg
Date: 09/21/2000 15:47:11
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<font class="\"headline\""><b><i><span style="text-transform: capitalize"><font face="Times New Roman" size="5" color="#0000FF">Read-Rite
launches Scion, a new </font></span></i></b></font><font size="5" color="#0000FF"><b><i>Fibre</i></b></font><font class="\"headline\""><b><i><span style="text-transform: capitalize"><font face="Times New Roman" size="5" color="#0000FF">
optics company</font><font size="4" color="#000080"><br>
</font></span></i><br>
</b></font>
<p><strong><font face="Arial" size="5" color="#000080">Read-Rite CEO gets into
growth</font></strong></p>
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<td width="66%"><em><font color="#000080">By Janet Haney,
CBS.MarketWatch.com<br>
<font size="2">Last Update: <!--webbot bot="HTMLMarkup" startspan
alt="<em><font size='2'>[Timestamp]</font></em>" -->1:51
PM ET Sep 21, 2000<!--webbot bot="HTMLMarkup" endspan -->
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<p><font color="#000080">SAN FRANCISCO (CBS.MW) -- Read-Rite Chief Executive
Officer Alan Lowe waxed positive about the future growth prospects for the
magnetic-recording-head supplier.</font></p>
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<TD><FONT face=Arial size=1>Updated:<BR>9/21/2000 11:47:04
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<p><font color="#000080">Lowe told a crowd of investors and analysts during a
presentation at the Banc of America Securities Investment Conference in San
Francisco on Thursday that he expects huge unit growth potential for Read-Rite's
(<a href="http://cbs.marketwatch.com/data/squote.htx?TICKER=RDRT&TABLES=table&SOURCE=htx/http2_mw&dist=newsq">RDRT</a>:
<a href="http://www2.marketwatch.com/news/search.asp?Query=RDRT&SearchOption=ticker">news</a>,
<a href="http://messages.marketwatch.com/mwclub/tickerLink.asp?ticker=RDRT&dist=newsm">msgs</a>)
December quarter, as well as the possibility of profitability.</font></p>
<p><font color="#000080">Lowe added that the company is hiring people as fast as
it can for its wafer fabrication facility.</font></p>
<p><font color="#000080">For the September quarter, the CEO said Read-Rite has a
"lot of product to ship in the last 10 days of the quarter."</font></p>
<p><font color="#000080">Additionally, Lowe talked about Read-Rite's recent
formation of an independent fiber optic company called Scion Photonics which he
said hopes to go public.</font></p>
<p><font color="#000080">Scion received funding from Tyco, which will make a
presentation at the conference later Thursday. <img src="http://cbs.marketwatch.com/news/images/cbsmw_fin.gif" width="51" height="14"></font></p>
<hr>
<em><font color="#000080">Janet Haney is a reporter for CBS.MarketWatch.com.<br>
</font></em>
<p> </p>
<p><font size="4" color="#000080">Read-Rite Corp <</font><font size="4" color="#CC0000">RDRT</font><font size="4" color="#000080">>
said late on Wednesday it has formed a new fibre optics company, Scion Photonics
Inc, with $25 million in initial funding from Tyco Ventures and Integral Capital
Partners. Read-Rite also said it was in discussions with several other
interested parties for more technology and capital investments into Scion.</font>
</p>
<p class="\"body\""><font size="4" color="#000080">Scion's business
charter is "to design, manufacture and market high-performance optical
components to the fibre optics communications market," Read-Rite said in a
statement.</font>
<p class="\"body\""><font size="4" color="#000080">Scion will act as a
separate company, but will have access to Read-Rite's resources and
manufacturing infrastructure, Read-Rite chairman Cyril Yansouni said in a
statement. Read-Rite is contributing its Milpitas, California wafer fabrication
plant, technical and management resources and its knowledge and experience in
thin-film technology and materials science to Scion, which will be based in
Milpitas.</font>
<p class="\"body\""><font size="4" color="#000080">Tyco Ventures, the
venture capital unit of Tyco International Ltd. <TYC>, invested $15
million in Scion and also invested $15 million in Read-Rite through a private
placement with the company, Tyco Ventures president Richard Kashnow said in a
statement.</font>
<p class="\"body\""> </p>
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<font face="Arial" size="2"><font color="#ff0000"><b><i>CBS article:</i></b><br>
</font><a href="http://cbs.marketwatch.com/archive/20000907/news/current/screamers.htx?source=blq/yhoo&dist=yhoo"><font color="#008000">http://cbs.marketwatch.com/archive/20000907/news/current/screamers.htx?source=blq/yhoo&dist=yhoo</font></a></font>
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<font face="Arial" size="2"><font color="#ff0000"><b><i>For the complete
streaming audio story users should access</i></b></font><br>
<a href="http://www.on24.com/index.html?id=36870&type=av&ref=bizwire"><font color="#008000">http://www.on24.com/index.html?id=36870&type=av&ref=bizwire</font></a></font>
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<font face="Arial" size="2"><br>
ALWAYS DO RESEARCH BEFORE INVESTING IN ANY STOCK!!!</font>
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