Sollensys Corp. Completes Acquisition of South Korean Touch Screen Manufacturer and Appoints Frank Woo as CEO
February 14 2013 - 3:19PM
Business Wire
Sollensys Corp. (OTCBB:SOLS) announced it has completed the
acquisition of Sollensys Corporation the South Korean Manufacturer
of Touch Screen Panels and the appointment of Frank Woo as CEO.
"This acquisition and appointment of Frank Woo is a huge
milestone for Sollensys Corp. Going forward, Frank will lead our
South Korean subsidiary by implementing the business strategy
centered around one of the fastest growing segments of the new
economy – interactive touch screen display panels. We are honored
to have a person of Frank Woo’s caliber as CEO. With his knowledge
of the touch screen panel business and its growth we are in a very
good position,” added Rowland W. Day.
"We are very excited about the direction and opportunities for
Sollensys. Thanks to our proprietary technology and technical
experts, we are able to design products up to three times faster
than our competitors. Our product success rate is an industry
leading 95%. The rest of the industry has only a 60-70% success
rate which means producing a similar number of working touch screen
panel modules is both more time-consuming and more expensive with
our competitors,” stated Mr. Frank Woo, the newly appointed CEO of
Sollensys Corp.
Sollensys Corp.’s technology and products coincide with the
dramatic growth of the smartphones and tablets marketplace. Touch
screen panels have become the dominant user interface today; 2012
saw a 68% increase in touch screen panel orders, as smart phone
manufactures start to phase out feature phones. This growth
continues to increase as smart phones don’t make up half of cell
phones in the world market.
Sollensys Corporation holds numerous patents on the touch screen
panel technology and the manufacturing process.
See Sollensys.co.kr and Sollensys.com for additional
information.
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involving risks and uncertainties. Results, events and performances
could vary from those contemplated. These statements involve risks
and uncertainties which may cause actual results, expressed or
implied, to differ from predicted outcomes. Risks and uncertainties
include but are not limited to product demand, market competition
and the Company’s ability to meet current or future plans.
Investors should study and understand all risks before making an
investment decision. Readers are recommended not to place undue
reliance on forward-looking statements or information. Sollensys
Corp. is not obligated to publicly release a revision to any
forward-looking statement, to reflect events or circumstances
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