Alberta Microelectronic Corporation changes its name to Micralyne Inc. and moves to new corporate headquarters
Edmonton, Alberta, July 10, 2000 - Alberta Microelectronic Corporation announced today that it has changed its name to Micralyne Inc., effective immediately. The new name reflects the direction that the Company has undertaken since its privatization two years ago. "This is a very exciting time for us", noted Chris Lumb, President and CEO. "Our previous corporate identity had historical origins that were important to us as we established ourselves in the microfabrication marketplace, but the name is no longer an accurate reflection of our business focus. Our new corporate identity is more in line with our current corporate objectives and corresponds with the future that we have charted for ourselves."
The Company has also recently moved into its new corporate headquarters. The 40,000 sq. ft. facility includes office space for the Company's 80 employees, as well as extensive laboratory and manufacturing cleanrooms for Micralyne's rapidly growing microfabrication business. The Company recently announced revenues of $8.7 million, an increase of 19% over the previous year. In addition, net income and operating cash flow were positive for the second straight year and net income was 260% higher than in the previous fiscal year. "The move into our new facility brings us to the next phase in our development. It provides the expansion in infrastructure that will allow us to continue the rate of growth that we have been able to achieve."
About Micralyne
Micralyne, a private corporation based in Edmonton, Alberta, will continue to apply semiconductor microfabrication technology to the design and manufacture of devices and systems for biotechnology and telecommunications applications. As Alberta Microelectronic Corporation, the Company has been recognized for its ability to use microfabrication techniques to make microfluidic devices, which are miniaturized components that are enabling radical improvements in genetic analysis, drug discovery and bioinstrumentation. Micralyne will continue building towards its vision of being a leader in supplying the world market for microfluidic and other microfabricated devices.
For further information contact:
Mr. Chris Lumb
President & CEO
Micralyne Inc.
1911 - 94 Street
Edmonton, Alberta
Canada T6N 1E6
Phone: 780-431-4400
clumb@micralyne.com
