Maxwell Technologies Completes Sale of Defense Contracting Business

Apr 02, 2001, 01:00 ET from Maxwell Technologies, Inc.

    SAN DIEGO, April 2 /PRNewswire/ -- Maxwell Technologies, Inc.
 (Nasdaq: MXWL) announced today that it has completed the sale of its defense
 contracting business for a total of approximately $20 million through separate
 transactions with two purchasers.
     Carl Eibl, Maxwell's president and chief executive officer, said that
 proceeds of the sale will be used to pay down bank debt incurred over the past
 year to build and outfit new production facilities and reshape the company to
 focus on its commercial power and computing businesses.
     "This completes the process we began in early 2000 to transform Maxwell
 into a product-driven, commercial enterprise," Eibl said.  "We are pleased to
 have been able to place our defense contracting business and nearly all of its
 employees with two leading players in the industry."
 
     Maxwell Technologies applies industry-leading capabilities in power and
 computing to develop and market products for customers in multiple industries,
 including transportation, telecommunications, consumer and industrial
 electronics, medical and aerospace.
 
 

SOURCE Maxwell Technologies, Inc.
    SAN DIEGO, April 2 /PRNewswire/ -- Maxwell Technologies, Inc.
 (Nasdaq: MXWL) announced today that it has completed the sale of its defense
 contracting business for a total of approximately $20 million through separate
 transactions with two purchasers.
     Carl Eibl, Maxwell's president and chief executive officer, said that
 proceeds of the sale will be used to pay down bank debt incurred over the past
 year to build and outfit new production facilities and reshape the company to
 focus on its commercial power and computing businesses.
     "This completes the process we began in early 2000 to transform Maxwell
 into a product-driven, commercial enterprise," Eibl said.  "We are pleased to
 have been able to place our defense contracting business and nearly all of its
 employees with two leading players in the industry."
 
     Maxwell Technologies applies industry-leading capabilities in power and
 computing to develop and market products for customers in multiple industries,
 including transportation, telecommunications, consumer and industrial
 electronics, medical and aerospace.
 
 SOURCE  Maxwell Technologies, Inc.