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| Overland Storage Announces Strategic Manufacturing Agreement with Foxconn | |
| Posted: Wed Oct 28, 2009 08:48:00 AM | |
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Overland Storage, Inc. (NASDAQ: OVRL) today announced it has reached a strategic manufacturing agreement with Foxconn, the largest and fastest growing multinational manufacturing services provider in the world. Under the terms of the agreement, Foxconn initially will collaborate with Overland on the manufacture of one product line within the company’s portfolio of end-to-end data protection solutions. “We are very pleased to partner with Foxconn to strengthen our product supply chain and global manufacturing capabilities,” said Eric Kelly, CEO of Overland Storage. “Foxconn’s award-winning business model should prove invaluable as we continue to improve Overland’s operational efficiencies and cost structure. Together, we can leverage our respective IP portfolios and technology expertise to extend the reach of Overland’s data protection products worldwide. This partnership with a tier-one contract manufacturer is an important step in transforming Overland’s operations and delivering next-generation products that bolster our bottom line.” Foxconn is a global industry leader with a roster of accolades for manufacturing innovation, including a top 10 spot in BusinessWeek’s IT 100 and consecutive rankings in the Fortune Global 500. The company currently is recognized as the largest exporter in China and the second largest in the Czech Republic. “We are extremely excited to have been selected as a strategic partner in Overland Storage's supply chain solution,” said Jackson Shih, vice president at Foxconn. “We believe that this relationship has significant synergistic benefits to both parties and look forward to a long and prosperous partnership for many years to come.” |