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to News RoomImation named global distributor for Trek's ThumbDrive(R) and other USB portable storage products
SINGAPORE and OAKDALE, Minn. (March 14, 2005) –
Imation Corp (NYSE: IMN), a worldwide leader in removable data storage
media and Trek 2000 International Ltd (SGX: TREK), a leading engineering
solutions provider listed on the Singapore Stock Exchange, today jointly
announced the establishment of a strategic business agreement designed
to bring an increasingly innovative portfolio of USB portable storage
products to customers worldwide. Under the agreement, Imation and Trek
will work together to deliver leading-edge USB storage products to the
market using Trek’s technology, research and development capabilities
and, leveraging Imation’s global distribution capabilities. Imation
indicated it intends to make a minor equity investment in Trek, which
will be immaterial to Imation.
“Today’s agreement represents an excellent opportunity for
both companies and our customers because it combines the core strengths
of Imation and Trek,” said Henn Tan, executive chairman and CEO
of Trek. “Imation’s global marketing and distribution strength,
combined with Trek’s technological leadership, will allow us to
rapidly develop and market new USB portable storage solutions worldwide,
bringing a wider range of innovations to our customers more quickly.”
This agreement grants Imation global sales, marketing and distribution
rights to Trek’s USB portable storage products under the ThumbDrive®
brand. Universal Serial Bus (USB) is the industry’s standard port
on virtually all new computers, designed for easy “plug and play”
connection to a wide array of digital peripherals, such as printers,
scanners, external drives, MP3 players and rapidly expanding flash memory
drive options. The flash drive segment of this USB peripheral market
is estimated to grow to over $3 billion dollars by 2008, according to
industry analyst firm Gartner, Inc.
Trek is known as a leading innovator in the USB portable storage peripheral
market, with a broad portfolio of patented technologies and strong brand
recognition of its ThumbDrive® products. As part of the strategic
relationship agreement with Imation, Trek will continue its primary
focus on research, development and manufacturing of leading-edge USB
portable storage products, providing unique solutions for personal and
business applications. In addition to standard flash storage devices,
Trek’s flash portfolio includes MP3 players, drives with embedded
cameras and patented “biometric” drives designed for high-security
access-controlled applications requiring fingerprint authentication.
Trek unveiled its newest innovations in this portfolio at the 2005 CeBIT
trade show, March 10-16, 2005, in Hannover, Germany, including its ThumbDrive®
0.85-inch Mini Disk Drive with storage capacities ranging from 2 gigabytes
(GB) to 4GB.
Imation, a global leader in data storage removable media, with more
than 50 years experience developing and marketing data storage products,
serves customers in over 100 countries worldwide. This agreement with
Trek extends Imation’s flash portfolio of USB 2.0 Swivel Flash
Drives and Flash Drive Minis to reach a broader audience and position
Imation for the future.
“Imation delivers the broadest portfolio of removable data storage
products to our customers throughout the world,” said Frank Russomanno,
chief operating officer and executive vice president of Imation. “Trek’s
innovative products are widely recognized by consumers and businesses
as convenient, high-quality solutions for their USB storage needs. Imation’s
longstanding industry experience and global distribution infrastructure
enables us to bring this innovative ThumbDrive® portfolio to customers
worldwide. And with the exploding demand for portable storage products,
we look forward to working with Trek to develop new solutions for this
market’s future needs.”
“The Imation – Trek relationship today clearly demonstrates
how global businesses can work together. The ThumbDrive® is a product
developed by Trek in Singapore. With the help of a multinational company
like Imation from the US, together we are able to turn ThumbDrives into
a global product. This is a development that brings pride and encouragement
to all of us in Singapore,” said Mr. Henn Tan.
In the coming months, Imation and Trek intend to provide more information
to their customers regarding product availability.
About Imation
Imation Corp is a leading developer, manufacturer and supplier of magnetic
and optical removable data storage media. Additional information about
Imation is available on the company’s website at www.imation.com,
or by calling 1-888-466-3456.
About Trek 2000 International
Trek 2000 International Ltd offers state-of-the-art design solutions
ranging from portable storage devices, digital audio and video products
to wireless and encryption – all catering to the fast changing
digital industry. Trek has offices all over the world including the
U.S., Malaysia, Thailand, India, Hong Kong, Singapore, the Netherlands,
China, the Philippines and Japan to serve the rapidly expanding markets
in all regions. A public company on the Singapore Stock Exchange (SGX:TREK),
Trek 2000 International Ltd is named by Forbes Global as one of the
Best Small Companies in the World for 2000 and 2002. Trek 2000 International
Ltd is also ranked as the Best Managed Small Company in Singapore by
AsiaMoney (of Euromoney). More information is available on the company’s
website at www.trek2000.com.sg
Trek® and ThumbDrive® are trademarks or registered trademarks of Trek Group of Companies in Singapore and / or other countries.
Imation and the Imation logo are trademarks of Imation Corp.
All other trademarks are property of their respective
owners.
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