Bill Murnane - Chairman,

President and CEO
 

Innovex, Inc. designs and manufactures highly complex flexible circuitry and chemically machined components. Innovex is one of a limited number of companies in the world able to produce flexible circuits with line and spacing tolerances of less than 2 mils. As a result of these capabilities, the Company is positioned to meet the growing demand for complex flexible circuits for disk drive and semiconductor packaging applications.

In the past, the Company primarily produced lead wire assemblies that connect the back end electronics of a hard disk drive with the heads that read and write information to or from the disk. During the last two years, the Company has transitioned from this traditional business to manufacturing flexible circuit interconnects. Over 75% of the Company's revenue is currently generated from the manufacture of flexible circuits as compared to 25% in fiscal 1998 and 12% in fiscal 1997.

In September1999, Innovex announced that it had successfully completed its merger with ADFlex Solutions, Inc. The combined company is now the largest flexible circuit manufacturer in North America. ADFlex, which is now referred to as Innovex Chandler, is a subsidiary of, and wholly owned by Innovex. The Company believed that joining forces with them was in the best interest of its customers, shareholders and employees. The combining of the companies will result in a larger, stronger organization that is better positioned to achieve its goals and succeed in a dynamic marketplace.

Our Mission

INNOVEX, Inc. exists to:

• Be one of the top two leading global manufacturers in the microelectronic interconnect markets in which we compete.
  
• Serve a diverse customer base with a broad range of products within the microelectronic interconnect industry.
  
• Create an entrepreneurial business environment in which employees are challenged, enjoy their work, grow professionally, and are financially rewarded for producing superior results.
  
• Maintain our competitive advantage by providing the highest quality product at the lowest possible cost.
  
• Focus continually on improving our process and product technologies.
  
• Create consistently high return on investment for our shareholders.