MAG InnoVision Becomes Part of New Monitor Manufacturing Group; Combined Operations Add Up to World's Third Largest Computer Monitor Manufacturer

Business Wire, April 17, 2000

Business Editors and High-Tech Writers

IRVINE, Calif.--(BUSINESS WIRE)--April 17, 2000

MAG Technology USA Inc., a leading manufacturer of color computer monitors, Monday announced that it has entered a new, combined management structure with Proview Technology, Inc. and CTX International, Inc.

The combined resources will rank them among the three largest computer display manufacturers in the world.

The three monitor companies will combine manufacturing, service and logistic capabilities. Proview will provide lead management for all three firms, but each will continue with their respective business development through separate brands, research and development, marketing, production, sales and channel strategies.

The new combined unit is expected to reach overall shipments totaling 10 million monitors for the year 2000. Proview forecasts 6 million units shipped this year; MAG projects 2 million units shipped; and CTX expects 1.5-2 million units. The target shipment of 10 million units will enable the new conglomerate to favorably compete with such mass volume producers as Samsung, LG and Philips.

"This cooperative management does not mean we are one company, but rather we will share top management so that the three companies can work together to optimize certain common operations," said Donald Ruan, chief executive officer of City of Industry, Calif.-based Proview Technology.

"This new organization will eventually extend to purchasing, logistics, after-sale servicing, system integration and other operational activities that will be mutually beneficial to the group."

MAG InnoVision markets and sells under its own brand name as well as develops products for OEM customers. Through the alliance, MAG InnoVision will now be able to increase the global presence of its already popular CRT and flat panel monitor lines.

"This new alliance allows our companies to share expertise and capabilities in many areas," said Robert Rook, director of marketing for MAG InnoVision.

"By combining our resources, we will benefit from each other's qualities that made us leaders in our industry. Additionally, our customers will benefit in terms of a wider selection and availability of products in the channel with prices that meet virtually every budget. This alliance truly gives our companies a greater edge in what has become an increasingly competitive business."

MAG InnoVision, based in Irvine, was established in 1988 and is best known for its award-winning MAG InnoVision CRT and flat panel monitor product lines. MAG monitors, also successful in Northern Europe, are available through distributors throughout North America.

Proview Technology, based in City of Industry, is the U.S. subsidiary of Proview International Holdings Limited, specializing in large volume, fast-moving display products. Proview supplies OEM, system builders and retailers worldwide while offering a complete line of 14-21 inch CRT and LCD monitors.

CTX International has headquarters in Diamond Bar, Calif. and was founded in 1981. CTX, which is a top-eight brand in the United States and has a strong channel network throughout Europe, offers a complete line of Professional, Executive and Value Series CRT monitors, as well as LCD monitors and multimedia LCD projectors.