Flash Adds Second Valley Site

Electronic News, June 7, 1999

Fremont, Calif.-Flash Electronics Inc., a Silicon Valley-based contract electronics manufacturing company, has entered into a lease agreement with CarrAmerica Realty Corp. for its second Fremont site in less than 18 months. The new 44,000-square-foot facility is located less than a mile from Flash's 52,000-square-foot headquarters site, which became operational in January 1998.

"This expansion nearly doubles our manufacturing capacity and should enable Flash to continue its 80 percent annual growth rate, sustained since our inception in July '94," said Chin Fan, Flash Electronics' president. "It is also gratifying that this growth has been funded entirely from operating revenues and internal resources. To date, we have not needed an IPO and have not incurred any long-term debt."

According to Ed Hayes, vice president for corporate development, "Flash is now on track to enter Y2000 with a run-rate exceeding $100 million. Also, we are seeing increased customer demand for our system manufacturing capabilities (box-builds). With our second site coming on line in mid-July, we will greatly expand system output and shorten response time, by consolidating all box-builds in the new facility."

The new Flash site is located in CarrAmerica's Fremont Technology Park, at 46446 Fremont Boulevard.

Flash Electronics' OEM customers include Nokia/Diamond Lane; Cabletron/FlowPoint; Digidesign; Pinnacle Systems; Network Appliance; Premisys Communications; NEC and Web TV.

Privately-held Flash Electronics was founded by contract manufacturing veterans. It places emphasis on "total manufacturing solutions" from design review and DFM; through prototyping and pre-production; to full- volume production, testing and fulfillment. Its design engineering, manufacturing, assembly & test, sales and customer support are all located at the two ISO-9002 Fremont sites.