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to News RoomStorage Development Agreement Further Demonstrates Commitment to Advance the Performance and Capacity of Future Tape Drives and Media
Singapore (November 19, 2003) - Imation Corp. (NYSE: IMN), a worldwide leader in removable data storage media, today announced a joint development agreement with StorageTek® (Storage Technology Corporation, NYSE: STK) to develop advanced tape media for StorageTek manufactured next-generation tape drives.
Under the agreement, Imation will develop and manufacture enterprise-class tape storage media to support StorageTek’s next generation tape drives. StorageTek's next-generation tape drive technology will continue StorageTek’s long history of providing a flexible and robust tape storage foundation to protect and manage customers’ critical information assets.
“This agreement marks another milestone in the longstanding relationship between our companies, and we are pleased to develop advanced tape media to support StorageTek’s next-generation drive offerings,” said Frank Russomanno, president, Imation’s Data Storage and Information Management business. “Our company has manufactured tape storage products to the most exacting quality standards for more than 50 years, and data center managers and IT professionals continue to trust us to protect their valuable information because of our proven track record of manufacturing premium tape media. Our investment in advanced media coating capabilities allows us to bring the industry’s future tape technologies--like StorageTek’s next generation tape media--to market and this partnership furthers our commitment to deliver the broadest portfolio of removable data storage media across all sectors and regions.”
“The ability to provide our customers with a wide breadth of advanced tape automation solutions is one of the key components of our Information Lifecycle Management™ strategy,” said Gary Francis, corporate vice president and general manager, Automated Tape Solutions, StorageTek. “Customers trust StorageTek and partners like Imation to provide the highest standards of reliability and performance in enterprise tape technology. Partnering with world-class tape manufacturers allows StorageTek to extend its industry-leading position, and continue to provide best-in-class tape drives and media for all our global customers.”
As a U.S.-based manufacturer of magnetic tape media, Imation has been
a worldwide leader in removable data storage for more than 50 years.
Imation continues to advance the development of magnetic tape technologies
– including the advancement of Metal Particulate (MP) coating
technologies, media capacity, read/write speeds and pilot production
designs that are implemented throughout the company’s manufacturing
sites.
Since its establishment, Imation has invested more than $600 million
in research and development and capital in its removable data storage
media business, including a recent $49 million investment in its Weatherford,
Okla. facility to develop advanced media coating capabilities that will
allow Imation to advance its MP manufacturing competencies across multiple
formats for advanced, next-generation tape storage products. These investments,
combined with Imation’s strong OEM relationships, keep Imation
at the forefront of developing higher capacity and higher performing
storage media.
About StorageTek
StorageTek (NYSE:STK), a $2 billion worldwide company with headquarters
in Louisville, Colo., delivers a broad range of storage solutions that
are easy to manage, integrate well with existing infrastructures and
allow universal access to data across servers, media types and networks.
StorageTek provides practical and safe storage solutions in disk, networking,
services, tape and tape automation. For more information, see www.storagetek.com,
or call 1.800.786.7835.
About Imation
Imation Corp. is a leading developer, manufacturer and supplier of magnetic
and optical removable data storage media. With one of the broadest product
lines in the industry—spanning from a few megabytes to hundreds
of gigabytes of capacity in each piece of media, Imation serves customers
in more than 60 countries, in both business and consumer markets. With
more than 300 technology scientists and more than 300 data storage patents
in the U.S. alone, Imation continues to pioneer today's proven magnetic
and optical media technologies.
As of September 2003, Imation employed approximately 2,800 people worldwide. Revenues from outside the U.S. contribute approximately 53 percent of total sales. Additional information about Imation is available on the company’s website at www.imation-southasia.com.
Imation and the Imation logo are trademarks of Imation Corp. StorageTek and the StorageTek logo are registered trademarks of Storage Technology Corporation. Other names mentioned may be trademarks of Storage Technology Corporation or other vendors/manufacturers. All other trademarks are the property of their respective owners.