SBS Technologies, Inc. Announces Alignment of Corporate Structure to Further Its Strategy: Company to Group Businesses by End Markets
SBS Technologies, Inc. ("SBS") ("the Company") (NASDAQ: SBSE) today announced, effective immediately, an alignment of its subsidiaries into two groups, the SBS Computer Group and the SBS Aerospace Group. In the Company's new alignment, the SBS Computer Group will consist of the SBS GreenSpring Modular I/O, Inc., SBS Bit 3 Operations, Inc., SBS Embedded Computers, Inc. and SBS Micro Alliance, Inc. subsidiaries. The SBS Aerospace Group will consist of the SBS Berg Telemetry Systems, Inc., SBS Avionics Technologies and DataXpress software operations. The Company announced that Mr. Joseph J. Zabkar, President of SBS GreenSpring Modular I/O, Inc., has been appointed President, SBS Computer Group and Mr. Richard A. Schuh, President of SBS Avionics Technologies, has been appointed President, SBS Aerospace Group. Each of the subsidiary management teams will report to the Group Presidents. Mr. Zabkar and Mr. Schuh will report directly to Mr. Christopher J. Amenson, Chairman and Chief Executive Officer. Steve Cooper, President, SBS Technologies, Inc., has been assigned a special corporate development project and will continue to report to Mr. Amenson. "The One SBS' Program implemented in mid-1997 has been very successful, and it is now appropriate to take another major step forward in the development of our Company," said Christopher J. Amenson, Chairman and Chief Executive Officer. ìOver the past several years, SBS has grown significantly by acquiring companies which substantially broadened our product offering in order to serve more of our customers needs. The One SBS' Program was initiated with the changing of our subsidiaries' names to help our customers recognize all of the SBS product opportunities they have, and to begin to use our synergies across our subsidiaries to create more customer value. Our second step, also completed in 1997, was to consolidate our sales efforts into two sales forces, which reflected the natural alignment of our two major customer groups. The step we are now taking is targeted at developing the technical, marketing, and sales synergies that are inherent in our Company," said Mr. Amenson. "Mr. Zabkar and Mr. Schuh are proven managers, and have demonstrated the ability to lead consistent year-over-year, profitable growth that meets our corporate goal. They will each be supported by a group Vice President of Technology, and a Vice President of Sales, who have also proven superior performance within SBS. This alignment will enhance the Companyís ability to continue to develop and deliver new product offerings while sustaining our substantial strategic advantage. This alignment provides a structure within which we can readily integrate our future business acquisitions, and will position SBS to continue to meet our goal of continued growth in profitability and shareholder value," continued Amenson. SBS Technologies, Inc. is a leading designer and manufacturer of open-architecture, standard bus embedded computer components that system designers can easily utilize to create a custom solution specific to the user's unique application. SBS product lines include CPU boards, input/output (I/O) modules, avionics modules and analyzers, interconnection and expansion units, telemetry boards, data acquisition software and industrial computers. SBS embedded computer components are used in a variety of applications, such as telecommunications, medical imaging, industrial control and flight instrumentation, in the commercial and aerospace markets. For news releases, product and other information, visit the SBS Web site at http://www.sbs.com. Certain of the foregoing information are forward-looking statements regarding the future events or the future financial performance of the Company, and are subject to a number of risks and other factors which could cause the actual results to differ materially from those contained in the forward-looking statements. Among such factors are: general business and economic conditions; customer acceptance of and demand for the Company's new products; the Company's overall ability to design, test and introduce new products on a timely basis; the cyclical nature of the markets addressed by the Company's products; and the risk factors listed from time to time in documents filed by the Company with the Securities and Exchange Commission.