Plastic Logic Places Multimillion Dollar Product Order from NexTech Solutions
Released on: December 5, 2007, 9:08 am
Press Release Author: Mercom Capital Group
Press Release Summary: Plastic Logic Limited has placed an order with NexTech Solutions for the FAS Advantage IV Extrusion Coater Line.
Press Release Body: AUSTIN, Texas - Dec. 3, 2007 - Plastic Logic Limited and NexTech Solutions (Pink Sheets: NXSN), are pleased to announce that plastic electronics leader, Plastic Logic Limited, has placed an order with NexTech Solutions for the FAS Advantage IV Extrusion Coater Line, a fully-automated and integrated coating line that will be incorporated into Plastic Logic's manufacturing line of flexible organic active matrix displays. Plastic Logic selected NexTech Solutions over top industry competitors because of its proven and technologically superior product performance.
The Advantage IV Coating Solution is a fully-automated, integrated coating line designed to meet the unique requirements of Plastic Logic's manufacturing process. The integrated coating line uses FAS' patented FASCoatT technology, a high-performance extrusion coating method used in the development of flat panel displays. FAS Advantage Coaters are sold as an integrated solution in a full-track system or as a stand-alone solution for R&D applications.
President of NexTech Solutions, Mr. Tony Di Napoli, stated, "Efficient handling and coating is critical for manufacturers of flexible organic active matrix displays. After conducting extensive trials of the FAS Advantage IV, Plastic Logic's selection of our coating solution validates our technological superiority. We are very pleased to be working with an industry leader like Plastic Logic, and to be able to meet their high-quality standards."
About Plastic Logic
Plastic Logic is a leading developer of plastic electronics - a new technology for manufacturing (or printing) electronics. The Plastic Logic approach solves the critical issues in manufacturing high resolution transistor arrays on flexible plastic substrates by using a low temperature process without mask alignment that is scaleable for large area, high volume and low cost. This enables radical new product concepts in a wide range of applications including flexible displays and sensors. Independent experts from IDTechEx forecast plastic electronics will be a $30 billion industry by 2015, and could reach as much as $250 billion by 2025.
Plastic Logic was spun out of Cambridge University in 2000 to build on 10 years of research and has a team of more than 90 employees. The company has now raised equity and venture finance from financial and industrial investors including Amadeus Capital Partners (UK), BASF (Germany), Bank of America (US), Dow Chemical (US), Intel Capital (US), Morningside (Hong Kong), Merifin Capital (Belgium), Nanotech Partners (an international nanotechnology fund established principally by Mitsubishi Corporation of Japan), Oak Investment Partners (US), PolyTechnos Venture-Partners (Germany), Siemens (Germany), Tudor Investment Corporation (US) and Yasuda Enterprise Development (Japan). Other shareholders include Cambridge Display Technology, Seiko Epson and the University of Cambridge. Venture finance has been provided by European Technology Ventures and European Venture Partners.
About NexTech Solutions and FAS Technologies
NexTech Solutions, Inc. delivers advanced metrology and automation solutions to the global semiconductor and flat panel display (FPD) industries. NexTech\'s mission is to create greater shareholder value through advanced technology development of products targeted at large, fast-growing markets. The company is headquartered in Austin, Texas, with facilities in San Mateo, Calif. NexTech's stock is quoted on the Pink Sheets under the symbol NXSN. For more information, see: http://www.nxts.com.
FAS Technologies, LLC is a Texas Limited Liability Company with offices in Dallas and Tokyo. FAS Technologies is a pioneering company widely recognized in the industry for the development of digital fluid dispensing a patented spinless coating technology known as \"FAS-Coat,\" which has become the de-facto standard in the coating process of FPD substrates during manufacture. The company is engaged in the design, development, manufacture, integration, sale and servicing of advanced, high-precision coating systems for the microelectronics industry. For more information, see: http://www.fas.com.
NexTech and FAS have announced plans to combine the two companies in a two-step transaction. The companies will consolidate operations into a joint venture which is expected to close in the fourth quarter of 2007, subject to closing conditions. Following necessary approvals of stockholders and regulatory authorities, the companies will be combined in a merger transaction and reincorporated in Delaware.
This release includes forward-looking statements that are made pursuant to the \"safe harbor\" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company\'s progress, business opportunities and growth prospects, readers and listeners are cautioned that such forward-looking statements represent management\'s opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company\'s operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company\'s periodic filings with Pink Sheets at http://www.pinksheets.com/quote/finance.jsp?symbol=NXSN.
Web Site: http://nextechfas.com
Contact Details: Investor and Public Relations Contact: Wendy Prabhu, Mercom Capital Group, llc 1-512-215-4452 firstname.lastname@example.org