PICO MACOM, INC.
12500 Foothill Blvd.
Lakeview Terrace, California 91342
(800) 421-6511
FAX (818) 899-1381
FOR IMMEDIATE RELEASE
STEREN ELECTRONICS INTERNATIONAL, LLC, PURCHASES PICO MACOM, INC.
Lakeview Terrace, California - October 5, 2001:
Pico Macom, Inc., a supplier of products and solutions to the worldwide cable television and telecommunications industry announced today that it has completed its reorganization and is now a wholly-owned subsidiary of Steren Electronics International, LLC.
Steren, a leading manufacturer and importer of interconnect products, passives and components for the Cable TV (CATV), Multiple Dwelling Unit (MDU) and Direct-To-Home satellite business is headquartered in San Diego, California and is an affiliate of the Mexico City based Electronica Steren, S.A. de C.V., the largest retailer and wholesaler of electrical components and accessories in Mexico. Pico Macom, Inc., headquartered in Lake View Terrace, California, is a leading manufacturer of CATV, rebroadcast quality broadband distribution equipment, passives and components for the CATV, SMATV, MDU and Direct-To-Home markets./p>
The teaming up of these two companies resulted from the recent reorganization of Pico Macom, Inc, and was the culmination of an initiative on the part of both Pico Macom and Steren to develop strategic alliances in order to better support their customers, develop new products and improve customer service.
Pico's new management team will be headed by its new Chairman, Mr. David Shteremberg, Mr. Jose Zyman, President, Mr. Hugh Rice, VP of Sales, Mr. Cyprain Ubabako, VP of Engineering and Product Development and Mr. Vick Soffer, VP of Operations. The new executive team brings both a wealth of experience and high expectations to provide a high level of service to Pico's customers.
Mr. Shteremberg, commented that, "The acquisition of Pico is a perfect fit, combining complementary product lines and markets. We are very excited about the opportunity to expand and support the Pico and Tru-Spec® product line with investments in new product development. The scale and capabilities that Steren brings to Pico will allow us to improve service levels to our customers and embark on an aggressive product development program. Pico and Steren, complemented by recent additions to the Pico management team in sales, procurement and engineering will allow us to provide an unprecedented level of support to customers through improved product lead times, new product introductions and high visibility in the markets that we serve."
Pico Macom, Inc. manufactures and distributes broadband electronic systems, components and provides solutions for the worldwide cable television and telecommunications industry. The Company is headquartered in Lakeview Terrace, California. For further information, please visit our website at www.picomacom.com.
Contact
Jose Zyman
President
(818) 897-0028