"New" SGI emerges from Chapter 11

SGI SAYS IT has emerged from chapter 11 bankcrupcy protection and emerged "leaner" and quite possibly meaner.

Having dispensed with its own militant tendency, the company says it is now the "New SGI".

It has slashed an burned a bit, dumped its old board of directors and management team and in the process saved a suggested $150 million a year.

"Today we debut the New SGI, an efficient and fully recapitalised company armed with a new, market-centric business model and empowered by a rekindled commitment to solving the problems of customers in a targeted range of markets," flanneled CEO Dennis McKenna in a statement.

The firm said it is preparing new server, storage and service products that will, "for the first time, address up to 80 percent of a customer's total information technology spend," according to McKenna.

These include a new SGI Altix XE line of x86-64 based servers and clusters running dual-core Intel Xeon processors and dual-core SGI Altix 450 and 4700 blade servers running the Intel Itanium 2 processors. µ

L'INQ
www.sgi.com