The Majestic Companies, Ltd. Announces Possible Acquisition
16 February 1999
The Majestic Companies, Ltd. Announces Possible Acquisition of Taltec Systems, Inc.
SAN DIEGO--Feb. 16, 1999--The Majestic Companies, Ltd., (OTC:BB MJXC). The Majestic Companies, Ltd. is pleased to announce that on-going talks with Taltec Systems, Inc. of Santa Barbara, California regarding Taltec becoming a wholly owned subsidiary has now progressed from talking with senior management to the shareholders of Taltec. Francis A. Zubrowski, the Chairman & CEO of The Majestic Companies, Ltd. has been finalizing the details of the possible acquisition.Taltec Systems, Inc. based in Santa Barbara, California develops and manufactures robotic automation equipment and industrial control software for the electronics and semiconductor industry. Products include specialized equipment for assembly of electronic antilock braking modules; systems to test large scale, high density semiconductor package substrates used for devices such as Intel's Pentium Processor; and automated systems to program and test integrated circuit encryption chips for the U.S. Government National Security Agency Clipper Chip Encryption Initiative.
Taltec has recently completed development of its muFlex product line, and has delivered equipment used for high volume manufacturing of Chip Scale muBGA integrated circuits, an emerging technology recently determined to be the industry standard for RAMBUS memory devices. Taltec has been a key supplier to major international semiconductor customers with representatives in the US, Asia and Europe. Current orders include muFlex equipment to be shipped to major semiconductor companies in Germany and Singapore.
Taltec will present two of its muFlex products at the upcoming Nepcon West (National Electronics Packaging Conference) held at the Anaheim Convention Center February 23 - 25, 1999. Nepcon is the world's largest electronics manufacturing conference typically hosting over 35,000 attendees. In recognition of leading edge manufacturing technology, Taltec, along with other leading semiconductor equipment companies will demonstrate its equipment at Nepcon's Technology Advancement Center (TAC) as part of a complete muBGA production assembly line.
The company is also completing development of it's new EASeII (Event Action Software environment) package for development and maintenance of realtime, multitasking software for machine automation and process control. Based on years of experience in developing machine control software, EASeII features a graphical flowchart language, automatic revision control, powerful debugging tools, automatic operator display layout, high level device configuration and a host of other advanced features.
The Majestic Companies headquartered in San Diego, California currently owns and manages three additional operating subsidiaries; Majestic Modular Buildings, Ltd., located in Modesto, California, which manufacturers modular classrooms, office buildings, medical facilities and telecommunication equipment shelters; Majestic Transportation Products, Ltd., a product development company that designs, engineers, and markets transportation related safety equipment, including a passenger safety restraint product for the school bus industry named the "Safe-T-Bar"; and Majestic Financial, Ltd., the leasing and financing arm of the Company whose main function has been to purchase modular buildings (primarily from the Majestic Modular group) for lease-back to California Unified School Districts, as well as to other users of modular structures.
The acquisition of Taltec embodies the continual efforts of The Majestic Companies and Zubrowski in capitalizing on acquiring manufacturing companies with little or no debt that enhance the overall objectives of the company. The Taltec acquisition will provide The Majestic Companies, Ltd. and its three subsidiaries with key advanced manufacturing and software technologies to broaden and enhance the Company's product development capabilities. Taltec joins Majestic's group of subsidiaries providing not only solutions to Majestic but allowing technological advancement in its product development to be utilized by the customers of Majestic. Taltec will continue to expand its operations based out of Santa Barbara, California.
Some of the statements in this press release may constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by forward looking statement.
Source: The Majestic Companies, Ltd. - Direct Inquiries to Clayton
Chase at: (619) 209-6077 Additional Source: Taltec Systems, Inc. Direct Inquiries to Tom
LaRovere at: Taltec Systems, Inc. (805) 681-3434 Intel Pentium Processor is a registered trademark of Intel Corporation. muBGA is a registered trademark of Tessera, Inc. muFlex and EASe are registered trademarks of Taltec Systems, Inc.
NOTE TO EDITORS: Please note the Greek symbol mu is in front of the company names Flex and BGA and is noted as 'mu' throughout this release.