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FOR IMMEDIATE RELEASE
September 9, 2008, Tyngsboro Mass. Piconics, Inc. of Tyngsboro, MA and Ion Beam Milling, Inc. of Manchester, NH jointly announce today that the two companies have entered into a partnership agreement for continued offering of Piconics Spiral (planar) Inductor Product Line.
Under the agreement, Piconics will share all intellectual properties, including the actual mask sets and process notes with Ion Beam Milling for continued manufacturing of all Piconics Spiral Inductors. This agreement will provide a seamless transition for many of our customers who have continued interest in our products. For those customers who require military or space level testing, Piconics will continue to accept orders for the inductors and perform these tests in house, commented Daniel Merrill, General Manager of Piconics, Inc.
Ion Beam Milling has agreed to carry the product line under original Piconics part number call outs, making it easy for customers to continue to procure the product for existing designs and bills of materials, without requiring costly Engineering Change Orders. Robert Quagan, president of Ion Beam Milling comment that this is going to be a truly cooperative partnership where we will work with Piconics and any of their existing customers of the product line to ensure that we are delivering the solution that they are accustomed to. We welcome Piconics customers as our customers. The customers should have full confidence in this relationship. This will be a win-win for all concerned.
The partnership allows for either company to market and solicit business for the Spiral Inductors. It further went on to clarify that all sales representatives of the respective companies are authorized and encouraged to actively solicit the business for the said Spiral Inductors. We are going to ask our vendors to honor this partnership in earnest and make available tooling services, chemicals, metal, and such, that were used by Piconics, to Ion Beam Milling. This should further assure our customers that the product they receive in the future, will be identical to the product that they have trusted and qualified for their designs, further commented Merrill.
Both companies have said that they welcome further inquiries from the media, their vendors, their customers and prospective customers, as well as the sales channels. The companies provided phone numbers as follows: Piconics, Inc.: (978) 649-7501 and Ion Beam Milling, Inc.: (603) 644-BEAM(2326)