Seagate moves ahead with sales into East Bloc countries

Scotts Valley, Calif. -- May 24, 1990 -- (Business Wire) -- Seagate (NASDAQ:SGAT) Thursday announced that it has further expanded into the Eastern European marketplace, already receiving over 3 million dollars' worth of sales orders from East Bloc countries since export license requirements were lifted for the company last week.

Seagate believes that this event makes it the first disc drive manufacturer to receive confirmation that several of its 3.5-inch and 5.25-inch hard disc drives meet the technical criteria for decontrol.

The relaxation of export controls for Seagate is an event for which the company has long prepared. ``We already have OEM agreements in Hungary, Czechoslovakia and Poland, and are in the advanced stages of negotiation with agencies in the Soviet Union,'' said Robert Martell, Seagate's vice president of international sales and marketing.

``In addition, two of our distributors have been selling in the East Bloc countries ever since Seagate received the deregulation notice from the United States Department of Commerce.''

Seagate Technology is the world's leading supplier of disc storage products to original equipment manufacturers and remarketers.

CONTACT: Seagate Technologies, Scotts Valley Kathleen Riley, 408/438-6550 16:21 ET

Copyright (c) 1990, Business Wire