Parlex Corporation Completes Facility Expansion
23 June 1999
Parlex Corporation Completes Facility Expansion
METHUEN, Mass.--June 22, 1999--Parlex Corporation announced today that it has completed a 62,000 square foot addition to its Corporate Headquarters and Flexible Circuit Products Facility. The four-story 180,000 square foot building houses administration, manufacturing, product development and engineering. Over the next eight months, Parlex plans to modify 35,000 square feet of production space to manufacture high-density substrates capable of supporting a new generation of electronics.Over the past year, Parlex has increased its manufacturing space to over 300,000 square feet worldwide. Last spring, Parlex added 12,000 square feet to its Laminated Cable Products Facility in Salem, New Hampshire and an additional 14,000 square feet to Parlex (Shanghai) Circuit Company, Ltd. in Shanghai, China. The establishment of Parlex - Mexico in Empalme, Sonora, Mexico in June 1998 and the recent acquisition of Dynaflex - A Parlex Company in San Jose, California added another 38,000 square feet.
At a ribbon-cutting ceremony and open house on June 19 commemorating the facility expansion, Peter J. Murphy, Parlex president and CEO commented, "We are pleased that this most recent expansion provides the additional capacity required to support the growing demand for our products. Over the next several months, a high-density substrate-manufacturing cell will be completed enabling Parlex to offer a new generation of product, which capitalizes upon several of our proprietary technologies. The additional space and a $7.0 million investment in equipment support our commitment of meeting our customers' needs through cost-effective innovative solutions."
Parlex Corporation is a world leader in the design and manufacture of flexible interconnect products. Utilizing proprietary processes and patented technologies, Parlex produces custom flexible circuits, laminated cables and value-added assemblies for sophisticated electronics used in automotive, telecommunications, computer, industrial, medical and aerospace applications. In addition to manufacturing sites in Methuen, Massachusetts, Salem, New Hampshire, San Jose, California, Shanghai, China and Empalme, Sonora, Mexico, Parlex also has logistic support centers and strategic alliances throughout North America, Asia and Europe.
Committed to satisfying the emerging needs of its customers, Parlex continues to develop high performance innovative technologies that are cost-effective. PALCoat(R), Parlex's newest proprietary technology, is the industry's first truly flexible photoimageable mask. Parlex's other patented technologies include PALFlex(R), an adhesiveless high performance material for double-sided flexible circuits; the ultra thin PALCore(R) for multilayer and rigid-flex circuits; and U-Flex(R), injection molded plastic integral to laminated cable that acts as a direct replacement for a connector.
Parlex's common stock trades on the Nasdaq National Market system under the symbol: PRLX. Parlex news and information can be found on the World Wide Web at http://www.parlex.com.
The foregoing contains certain forward-looking statements. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of various factors beyond its control, including economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change.