New name reflects combined rugged, mobile computing operations of two leading firms
Eden Prairie, Minn., March 12, 2001 - FieldWorks, Inc. (OTC BB: FWRX), a leading provider of rugged, mobile computers, announced today that effective April 16, 2001, it will begin doing business around the world as Kontron Mobile Computing Computing - the North America-based, mobile computing affiliate of Kontron Embedded Computers AG, Munich, Germany.
The new name reflects the combination of the mobile computing businesses previously operated separately by FieldWorks and Kontron Embedded Computers which will now be operated under the Kontron Mobile Computing Computing name, and follows a series of transactions in which Kontron Embedded Computers acquired a majority interest in FieldWorks in late 2000.
"Today´s announcement formalizes a stage in the partnership between Kontron and FieldWorks which has been in preparation for some time," said Thomas Sparrvik, president and CEO, FieldWorks. "Under the name Kontron Mobile Computing Computing, we now will manage the mobile computing brands, products and development expertise of both FieldWorks and Kontron under one roof. As such, we?ll offer a wider array of products and services for our customers, we?ll broaden our coverage in key, high-growth markets around the world and we?ll enhance our ability to develop new products aggressively and deliver them quickly."
In advance of the name change, FieldWorks has already added several Kontron Mobile Computing computing products to its mobile computing product line, including the Kontron PowerLite, IN Rave and FieldLite mobile computers. The Kontron products complement FieldWorks? existing line, which includes rugged, mobile data servers for in-vehicle applications and portable workstations for field data acquisition.
"By investing in FieldWorks, with its strong U.S. presence and well-known design and marketing expertise, Kontron continues its aggressive pursuit of solid strategic partnerships and creation of new centers of competence in key markets around the world," said Hannes Niederhauser, president, Kontron Embedded Computers. "Under the leadership of Thomas Sparrvik and his management team, Kontron Mobile Computing Computing will further strengthen Kontron´s competitive position in the global computing market and contribute to our plans for continued, rapid growth."
Since December 2000, Kontron Embedded Computers has acquired majority positions in FieldWorks and several related companies, including Teknor Applicom, Montreal, a leading supplier of applied computing solutions for telecommunications, Internet, industrial automation and mobile computing applications; PEP Modular Computing, Kaufbeuren, Germany, which provides high-tech solutions for industrial automation; and Taiwan Mycomp Corp. (TMC), Taipei, Taiwan, which specializes in the development and production of embedded computer boards for use in logistics, transport and automation systems.
The newly named Kontron Mobile Computing Computing will remain headquartered in FieldWorks? existing U.S. facility in Eden Prairie, Minn., with sales, service and manufacturing locations worldwide. The company will continue to be traded on the U.S. Over the Counter Bulletin Board under the ticker symbol "FWRX." The company plans to retain the name FieldWorks as a brand name for selected products within its portfolio, and further details will be announced in coming weeks, company officials said.
About Kontron Embedded Computers AG:
Kontron Embedded Computers is one of the world´s largest manufacturers of embedded computing solutions supplying leading OEMs, systems integrators and application providers in the communications, automation and mobile markets. Kontron helps customers significantly reduce their time-to-market and gain a competitive edge with products including high-performance, dedicated computer platforms and systems, single board computers, human-machine interface systems and portable computers. Kontron employs over 900 people worldwide and ope
rates manufacturing facilities in both Europe and North America. Kontron is listed on the German Neuer Markt stock exchange under the symbol "KBC."
For more information, visit FieldWorks online at www.field-works.com.
Forward-looking statements in this news release, if any, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the statements, including the impact of changing economic or business conditions, the impact of competition, the availability of financing, the success of products in the marketplace, other risk factors inherent in the computer industry and other factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.
FieldWorks headquarters are at:
7631 Anagram Drive, Eden Prairie, MN 55344
Internet Address: www.field-works.com
Telephone: (952) 974-7000
Fax: (952) 974-7199