Sony
Corporation Assigns Industrial Projection CRT Manufacturing and Marketing to
Video Display Corporation
Wednesday February 23,
ATLANTA--(BUSINESS
WIRE)--Feb. 23, 2005--Video Display Corporation (NASDAQ:VIDE - News) announced today that the
Company has concluded an agreement with the Sony Corporation (Tokyo, Japan)
whereby Sony has assigned its 9" industrial projection CRT product lines
to Video Display Corporation. Under the terms of the agreement, Video Display
Corporation has purchased Sony's 9" industrial projection CRTs
manufacturing equipment and is in process of transferring and integrating the
Osaka, Japan manufacturing operation, as well as the sales, marketing and
support operations into its US based Lexel Imaging
Systems subsidiary in Lexington, Kentucky and to its facilities in Tucker,
Georgia.
Sony's industrial projection
CRTs are used extensively worldwide in projection systems for very high-end
training simulation applications, for the most demanding visual systems and
both military and commercial control room environments. As part of the
agreement, Video Display Corporation has purchased approximately 90% of Sony's
last-time production, which was discontinued as of January 15, 2005, to support
all future requirements of both OEM projector manufacturing and replacement
parts support of customers of the Sony product family of 9" projection
CRTs from the last time buy quantities until subsequent production is initiated
In Lexington, Kentucky.
"We are extremely
pleased," stated Ron Ordway, CEO, "with the addition of the Sony line
of 9" industrial projection CRTs to Video Display's extensive line of
specialty in-house CRT manufacturing capabilities. We believe that acquisition
of the assets, and having licensed access and rights to this technology, will
prove to be invaluable in the future development of several of our existing
display operations as well as generating positive and immediate bottom line
results."
About Video Display
Corporation
Video Display Corporation
designs, develops and manufactures unique solutions for display requirements
for commercial, medical, military and industrial use with particular emphasis
on high end training and simulation applications. Its product offerings include
ruggedized CRT and AMLCD monitor displays for high
performance systems as well as complete visual systems utilizing VDC's MARQUEE(TM) line of video projectors. Video Display
Corp. is headquartered in Tucker, Georgia with 10 manufacturing and eight sales
facilities throughout the
Contact:
Video Display Corporation, Tucker Ronald D. Ordway, 770/938-2080