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SANTA CLARA, Calif., Dec. 18 /PRNewswire/ -- Tripath Technology Inc. (Nasdaq: TRPH - news), creators of Class-T(TM) digital audio amplifiers, announced today an expanded relationship with ST Microelectronics (ST) designed to consolidate manufacturing activities, broaden product portfolios and collaborate on developing advanced technology solutions. As a result of this cooperation, Tripath will be able to optimize production costs and streamline manufacturing operations. In addition, Tripath believes that this expanded relationship will help them achieve their 2002 objective to enhance revenue and expand market opportunities.
As an expansion of the companies' existing supply agreement, Tripath will begin to transition additional manufacturing activities to ST. Tripath believes this approach will simplify Tripath's supply chain for key products, and through consolidation at ST, will improve the product cost structure.
``Consolidating Tripath's digital audio amplifier manufacturing supply chain will substantially reduce our production costs, a significant savings that we believe will enhance our strong competitive position in the market,'' said Alan Soucy, Tripath's Vice President of Worldwide Sales and Applications. ``By initiating these manufacturing synergies, Tripath and ST will have the opportunity to broaden our business base in the near and long term.''
``We believe that we have established a valuable cooperation that compliments both ST and Tripath's goals to expand revenue and market opportunities,'' said Riccardo Ferrari, Audio Business Unit Director of ST Microelectronics. ``We are also pleased that we are able to assist Tripath in consolidating their manufacturing process.''
To better serve its customers, Tripath plans to market and sell selected complementary products from ST's product line, which will broaden its portfolio and enable Tripath to aggressively pursue new growth markets. For Tripath, this new arrangement will contribute to its revenue beginning in the first half of 2002.
Additionally, to further enhance the breadth of this relationship, the two companies have agreed to explore new technology solutions that leverage the significant process technology of ST and the unique advantages of Class-T technology for new audio products with high digital content.
Mr. Soucy concluded, ``As Tripath grows as a company we will continue to build a technology and product lead in this large and expanding market. We believe this renewed relationship with ST will assure our competitiveness. As a result, it allows Tripath to improve our manufacturing processes, reduce our costs, and expand our revenue and market opportunities. We are committed to our partnership with ST which will ultimately benefit Tripath, ST, our customers and our shareholders.''
About Tripath Technology
Based in Santa Clara, California, Tripath Technology Inc. owns the patented Class-T digital audio amplifier technology, which combines modern advances in digital signal processing and power processing. Tripath's Class-T(TM) digital audio amplifiers rely on a fundamentally new approach to amplifier design that uses semiconductor-based amplifiers that provide significant performance, power efficiency, size, weight and cost advantages over traditional amplifier technology. Tripath's current products target audio applications with sales to leading consumer electronic and computer companies, such as Sony, Aiwa, Hitachi, Blaupunkt and Apple Computer; as well as DSL communications equipment providers, such as Alcatel, with Tripath's low power line drivers for central office applications. For more information please visit our web site at http://www.tripath.com .
About ST Microelectronics
ST Microelectronics is the world's third largest independent semiconductor company. The Company shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. The Company designs, develops, manufactures and markets a broad range of semiconductor integrated circuits (ICs) and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. In 2000, the Company's net revenues were $7,813.2 million and net earnings were $1,452.1 million. Further information on ST can be found at www.st.com.
Safe Harbor Statement
Certain statements in this release concerning the Company's growth are forward looking statements that involve a number of risks and uncertainties. Actual results could differ materially. Our ability to grow depends on many factors, such as silicon wafer pricing and the availability of foundry and assembly capacity and raw materials. Also, the availability and pricing of competing products and technologies would effect sales and pricing of our products. We may experience fluctuations in the manufacturing yields of our third party semiconductor foundries and other problems or delays in the fabrication, assembly, testing or delivery of our products. We may not be able to specify, develop or acquire, complete, introduce, market and transition to volume production new products and technologies in a timely manner. Further information regarding these and other risks and uncertainties is included in the Company's United States Securities and Exchange Commission filings.
SOURCE: Tripath Technology Inc.
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