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| Kaparel Corporation not affected by closing of video networking operation (formerly PixStream Inc.) announced by Cisco Systems Inc. |
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| April 26, 2001 – Waterloo, Ontario |
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Kaparel Corporation announced today that it will not be affected by Cisco Systems Inc.'s decision to close its Waterloo-based video networking operation (formerly PixStream Incorporated). Although Kaparel was spun off of PixStream in 1999, the 40% share of Kaparel initially owned by PixStream was purchased by Rittal Corporation in November 2000. Rittal Corp. is an international manufacturer of electronic enclosures systems, power distribution systems, network enclosures, climate control and terminal systems headquartered in Herborn Germany, with manufacturing and sales offices around the world.
Kaparel Corporation is involved in the design and production of CompactPCI hardware and software solutions for the global converging communications market. Although the PixStream and Kaparel products are both sold in the same market space, they are totally different applications and the closing of Cisco's video operation in Waterloo will have no affect on Kaparel's day to day operations. Earlier this month Kaparel moved to a new 20,000 sq. ft world headquarters building in the PressWorks Technology Park on Randall Drive in Waterloo. This facility was required to house the company's employees and production facility that have grown since their inception in 1999.
Commenting on the Cisco announcement of the closing of the former PixStream operation, Ben Robitaille, President and CEO of Kaparel stated, "We have great sympathy for the PixStream employees, as we have worked closely with them over the years and it is sad to see their hard work on these exciting video networking products shelved due to the recent global economic situation."
"Although affected by the slowdown of the world market for network gear, Kaparel is still seeing a large number of new design projects being developed by the major OEMs and we are expecting growth to resume in the fourth quarter of 2001. Kaparel has maintained a focus on its core business of CompactPCI backplane architecture solutions and is structured to meet fluctuations in the market."
Mr. Robitaille continued stating "The timing of the sale of Kaparel to Rittal will help us during the current economic downturn by adding additional customers, as CompactPCI backplanes support Rittal core business. The purchase of Kaparel by Rittal formalized a long standing agreement and brings together synergistic partners that will provide OEMs with a more integrated solution to assist them in gaining efficiencies in their business, with faster time to market. This will be important in the current economic environment in the telecom market." |
About Kaparel |
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Kaparel is an ISO 9001:2000 registered company that develops, manufactures, and markets electronic packaging solutions and high-speed backplanes to the global Converging Communications market. From its pioneering work in CompactPCI bridge designs, Kaparel has quickly become a leader in many aspects of high-speed backplane architecture technology and has a library of over 500 high-speed custom designs including AdvanceTCA.
Kaparel's catalog of product includes a complete line of high slot count, hot swap and high availability backplanes and high quality electronic packaging products and services for telecommunications and embedded computer manufacturers. Founded in 1996, Kaparel is based in Waterloo, Ontario - Canada's Technology Triangle and is a part of Rittal International, the world's largest electronic enclosure manufacturer with offices in over 55 countries. |
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Media Contact
Michael Pichna · Marketing Specialist · Kaparel Corporation
T: 519.725.0101 Ext.232 F: 519.725.0414 · E: marketing@kaparel.com · www.kaparel.com
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