AMR to supply Samsung with $7M US a year of TV screen components 2/17/04 TORONTO, Feb 17, 2004 (The Canadian Press via COMTEX) -- AMR Technologies Inc. has signed a deal to supply $7 million US a year of TV screen materials to consumer electronics maker Samsung SDI Co. Ltd. of South Korea.
The deal would see the Toronto company supply the components beginning in 2005 from a propos ed China plant that would produce rare earth compounds used for the display materials industry.
'As the display industry around the world consolidates into China, this phosphor production facility together with our other initiatives in this sector, is a logical next step in AMR's growth strategy,'said Peter Gundy, AMR's chief executive.
'It builds on our long history of successfully producing complex materials in China for the world's advanced electronics and automotive industries as well as our long-standing strong relationships with key customers such as Samsung SDI.'
Founded in 1993, AMR has about 1,000 employees and produces, processes and develops rare earth and zirconium based engineered materials and applications. The materials are used in everything from automotive catalysts to computers, mobile phones, CD and DVD players and other electronic and telecom devices.
AMR separates and purifies rare earth and zirconium materials at two plants in China and sells to customers in Europe, North America, Korea, Japan and China. AMR also manufactures rare earth bonded magnetic powder at its plants in Thailand, for the electronics and automotive markets.
In trading on the Toronto Stock Exchange on Tuesday, AMR (TSX:AMR) shares were unchanged at $3.28.
The online source for news sports entertainment finance and business news in Canada
Copyright (C) 2004 The Canadian Press (CP), All rights reserved
|