Jun 26, 2003
"This is an important milestone in the history of Seagate's recording media operations," said Bill Watkins, Seagate's president and chief operating officer. "We continue to make strategic investments in Singapore by leveraging established infrastructure and tapping the significant technological and human capital this island-nation has to offer. We are pleased to extend our mutually beneficial relationship with the Singapore government, who have shown us tremendous support over the 10-plus years that we have operated here."
On Seagate's latest investment decision, Teo Ming Kian, chairman, Singapore Economic Development Board commented, "Seagate's vote of confidence in Singapore reinforces our competitiveness as a manufacturing hub, especially in light of the current global economic situation. As Singapore sustains its focused drive to develop a high-end manufacturing sector, this new recording media manufacturing plant further enhances our position as the world's leading hard disk drive manufacturing location. This timely decision also strengthens the long-term Seagate-Singapore partnership for excellence."
Dennis Brown, Seagate vice president of Singapore's RMO operations, added: "The vertical integration strategy Seagate has pursued since its inception in 1979 has established the Company as the industry leader, shipping nearly 60 million disc drives in the past year. The expanded operation at Woodlands will better position us to meet the world's growing demand for data storage."
The new multi-million dollar Woodlands extension will see the establishment of five-story manufacturing block housing Seagate's state-of-the-art equipment and new-generation technologies.
Initially, the new facility is expected to require an increase in staffing of approximately 20% of the current workforce, growing to nearly 50% over time.
Piling works started last month and the first production floor is expected to be ready for factory equipment installation in Q2 CY2004, and production beginning in Q3 CY2004.
The Woodlands operation, established in 1996, was Seagate's first Recording Media Operations (RMO) facility outside of North America. It is also the Company?s largest media manufacturing facility and accounts for about half of Seagate's internal output of the industry?s most advanced disc media. Seagate's other RMO operations are located in Milpitas (USA) and Northern Ireland.
About Seagate Technology Seagate is the worldwide leader in the design, manufacturing and marketing of hard disc drives for Enterprise, PC and Consumer Electronics applications. The Company is committed to delivering award-winning products, customer support and reliability, to meet the world's growing demand for information storage. Seagate can be found around the globe and at www.seagate.com.
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