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TAG McLaren Halts New Product Development

7/30/2003 08:36:00 AM Eastern

Rancho Cucamonga, Calif. - High-end A/V equipment manufacturer TAG McLaren Audio Limited has ceased development of new products and is conducting a full strategic review of its participation in the audio market, the company announced.

The company cited the impact of 'the present world economy' on the market for high quality audio and audio/visual products, which this 'has made it increasingly difficult to operate on commercially acceptable margins consistent with the levels of development investment required.'

The company began in 1998 as a manufacturer of high quality audio and audio/visual equipment, and has won numerous awards of excellence and countless exceptional product reviews in that time.

The company said products already introduced into the market and their relevant, existing upgrades will remain available for the time being, and warranty, repair and help-desk services will continue to be available, whatever the outcome of the strategic review.

In the meantime, the company said the following product upgrades are almost completed and will be made available:

Software Upgrade 'Height channel' for AV32R DP/AV192R and, for the time being, the Video Scaler Module VSM2048 for AV192R.