George S. Kariotis Elected Chairman Emeritus of Alpha Industries
Mr. Kariotis was a principal founder of Alpha in 1962. He has served as the Chairman of Alpha's Board since then and as the Company's Chief Executive Officer until 1991. Under his direction, Alpha laid the foundations of its current dynamic businesses, providing radio frequency integrated circuits, RF semiconductors and other RF devices to the fast-growing markets for wireless telephone handsets and other wireless markets. Mr. Kariotis was an early champion of gallium arsenide (GaAs) technology at Alpha.
Tom Leonard, Alpha's newly elected Chairman, stated, "George Kariotis was a pioneer in radio frequency technologies in Massachusetts, long before anyone could be sure that wireless markets would be as important and dynamic as they have become. His guidance and leadership have helped Alpha to become the success it is today, and we are all pleased that he will continue to be involved with the Company in his new role as Chairman Emeritus."
Mr. Kariotis served as Secretary of Economic Affairs for Massachusetts under Governor King from 1979 until 1983 and, in this position, was the founder of the Mass. Technology Park Corporation and the Bay State Skills Corporation.
He is also Vice-Chairman Emeritus of Northeastern University and a member of the Board of Trustees of Lahey Clinic.
About Alpha
Alpha Industries designs and manufactures a broad range of products for microwave and radio frequency wireless communications applications. The Wireless Semiconductor segment provides gallium arsenide (GaAs) integrated circuits and other semiconductors to the dynamic global market for wireless telephone handsets. The Ceramic Products segment provides technical ceramic products for wireless telephony infrastructure and other wireless markets. The Application Specific Products (ASP) segment provides a broad range of GaAs and silicon devices to satellite, instrumentation, defense and other communications markets. Alpha has a workforce of over 1,000 employees in Massachusetts, California and Maryland. Additional information is available at Alpha's website - www.alphaind.com.
Safe Harbor Statement - Except for the historical information contained herein, this news release contains forward-looking statements that constitute the Company's current intentions, hopes, beliefs, expectation or predictions of the future which are, therefore, inherently subject to risks and uncertainties. The Company's actual results could differ materially from those anticipated in the Company's forward-looking statements based on various factors, including without limitation: cancellation or deferral of customer orders, dependence on a small number of large customers, difficulties in the timely development and market acceptance of new products, market developments that vary from the current public expectations concerning the growth of wireless communications, difficulties in manufacturing new or existing products in sufficient quantity or quality, increased competitive pressures, decreasing selling prices for the Company's products, or changes in economic conditions. Further information on factors that could affect the Company's performance is included in the Company's periodic reports filed with the SEC, including but not limited to the Company's Form 10-K for the year ended March 28, 1999, and subsequent Forms 10-Q. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstance on which any such statement is based.
CONTACT: Alpha Industries, Inc.
James C. Nemiah, 617/824-4426