Richardson Electronics Celebrates Its 75th Anniversary

Celebration in honor of the Company’s history and plans for the future

LAFOX, Ill., May 24, 2022 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ: RELL), a global provider of engineered solutions for the display, healthcare and power management markets, is celebrating its 75th anniversary throughout 2022 with activities highlighting the Company’s history and plans for the future.

Richardson Electronics is proud of its 75-year history of engineered solutions and innovation. Beginning in 1947 as a start-up selling war surplus tubes and growing into a global manufacturer of patented ultracapacitor modules for replacing lead-acid batteries in wind turbines, the Company has come a long way over the years. The Company was started by Arthur H. Richardson in May of 1947, in a red barn in Wayne, Illinois. Edward J. Richardson, son of the founder, took over as President and CEO in 1974, and became Chairman of the Board when the Company went public in 1983—positions he still holds today. Florence Richardson, Ed’s mother and Company matriarch, worked in the Company until she was 95. Despite its humble beginnings, Richardson Electronics has grown into an international organization with 60+ locations worldwide, supporting more than 20,000 customers, and employing hundreds of people around the world in a family-oriented environment.

Today Richardson Electronics has three business units including the Power & Microwave Technologies Group, Richardson Healthcare and Canvys. Each business capitalizes on strong engineering expertise to help customers solve unique challenges. The Company is investing in green power management solutions to protect the environment and in healthcare solutions that help reduce the cost of medical services. Through Canvys, its display division, the Company provides custom interactive displays to many of the most sophisticated medical and industrial companies throughout the world. The Company has its headquarters in a 250,000 square foot building in LaFox, Illinois, and partners with other companies to manufacture more than 60% of the products it sells.

“I am very proud of what we’ve accomplished throughout the Company’s 75-year history. It takes a great team of employees and partners to get us where we are today. From our legacy products to new engineered solutions, we’ve learned from and evolved with the needs of our global customers,” said Richardson. “As we look to the next 75 years, we are committed to developing innovative solutions to meet our customers' unique challenges.”

As part of its celebration, Richardson Electronics released a documentary-style video this month, and a book on its colorful 75-year history will be available in the summer. On October 24, 2022, we will honor the Company’s listing on the NASDAQ stock market since 1986 by ringing the closing bell. The Company is also providing its employees additional time off for community service work. Richardson Electronics is dedicated to investing in its diverse employee base and innovative technologies including its focus on green power management solutions for another 75 years.

For more information about Richardson Electronics’ 75th anniversary, historical timeline, employee spotlight, testimonials, new products, and interesting Company facts, please visit https://www.rell.com/75years.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; high-value replacement parts, tubes, and service training for diagnostic imaging equipment; and customized display solutions. More than 60% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All of our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics, Ltd. common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

Forward-Looking Statements

This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business that are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K filed on August 2, 2021, and other reports we file with the Securities and Exchange Commission. The Company assumes no responsibility to update the “forward-looking” statements in this release as a result of new information, future events or otherwise.