News

Superconductor Technologies Inc. Takes Possession of Advanced Manufacturing Center of Excellence in Austin, TX - On track to accept equipment delivery in Q1 2012

SANTA BARBARA, Calif., Jan. 10, 2012 (GLOBE NEWSWIRE) -- Superconductor Technologies Inc. (Nasdaq:SCON) ("STI"), a world leader in the development and production of high temperature superconducting (HTS) materials and associated technologies, took possession of its Austin Advanced Manufacturing Center of Excellence (AMCE) facility effective January 1, 2012. The 94,000 square foot building is located in the heart of Austin's premiere industrial sector at 9101 Wall Street. STI is preparing the building for the installation of HTS wire manufacturing equipment beginning in the first quarter of 2012.

Jeff Quiram, STI's president and chief executive officer, said, "The opening of our AMCE facility in Austin is an important milestone for STI that places us on track to achieve commercial availability of HTS wire in 2013. This new facility positions us to meet the growing expectations of our prospective HTS wire customers by significantly increasing our production capacity. While we did not consummate a commercial agreement last year as we had expected, we are actively pursuing a number of exciting commercial HTS wire opportunities. STI is committed to working closely with the industry leaders in HTS devices by providing meaningful quantities of our Conductus® 2G HTS wire."

Bob Johnson, STI's vice president of operations, stated: "This Class A facility in Austin is an ideal site for our HTS wire AMCE that will incorporate all of our HTS wire processes under one roof. Our manufacturing strategy integrates all value-add stages of the process, from technology development to volume production and finally shipping the end-product from one facility. Our AMCE concept allows instant feedback to co-located processes where ideas, inspirations, improvements and corrective action control measures are streamlined and aligned."

While STI is relocating its corporate headquarters to Austin, it will continue to maintain a presence in Santa Barbara, CA for its existing R&D, certain business operations and commercial wireless business. Also, effective January 1, 2012, STI subleased a significant portion of its Santa Barbara facility in an effort to streamline its wireless product manufacturing footprint and begin the relocation of its corporate offices to Austin, where it expects the majority of the new personnel for the HTS wire program to reside.

Source: http://phx.corporate-ir.net/phoenix.zhtml?c=70847&p=irol-newsArticle&ID=1646379&highlight=.