News Article
Rim Semiconductor signs memoranda of understanding with three Asian companies
Rim Semiconductor Company has entered into memoranda of understanding with three equipment manufacturers concerning their evaluation and testing of the Company’s Cupria 5001 transport processor.
Rim Semiconductor Company has entered into memoranda of understanding with three equipment manufacturers concerning their evaluation and testing of the Company’s Cupria 5001 transport processor. These companies are located in China, Singapore and Taiwan. Together, they currently ship over ten million digital subscriber lines per year to telephone companies worldwide. Their combined revenues are in excess of three billion dollars.
Under the memoranda of understanding, these companies intend to complete a product evaluation of the Cupria 5001 transport processor. All three companies have asked Rim Semi to not identify them publicly until such time as they agree, or Rim Semi is required by the Securities and Exchange Commission, to be publicly identified. The memoranda of understanding do not bind Rim Semi or any of the equipment manufacturers.
These three new companies are in addition to the two companies that entered into previously reported multi-year supply agreements with Rim Semi.
“We believe that our customers will have a decisive advantage over their competitors because our chips will deliver a compelling performance advantage,” stated Brad Ketch, president and chief executive officer of Rim Semiconductor Company. “We are very pleased to see that major equipment manufacturers are eager to evaluate our new products.”
