SANTA CLARA, Calif.,
Jan. 18, 2017 /PRNewswire/
-- UniPixel, Inc. (NASDAQ: UNXL), a provider of
Performance Engineered Films™ to the touchscreen and flexible
electronics markets, today announced a Memorandum of Understanding
("MOU") to enter into a strategic partnership with General
Interface Solution, Limited ("GIS"), a Taiwan-based, subsidiary of Foxconn, and a
billion-dollar provider of integrated touch display solutions in
the mobile phone, Notebook PC, 2-in-1 laptop and tablet markets to
global customers including major PC and smart phone brands.
Under the memorandum the parties will form a strategic
manufacturing project that will initially extend over three years
and which may be renewed by mutual agreement. A definitive
agreement is expected to be executed in the coming weeks. The
parties also contemplate entering into a separate development
project for foldable/flexible displays.
Jeff Hawthorne, president and
chief executive officer of UniPixel, commented, "We are very
pleased to enter into this MOU with GIS. They are a highly
respected, leading-edge provider of integrated touch display
solutions. UniPixel will benefit from the manufacturing expertise
and scale of GIS to address the volume production requirements of
our multiple design wins. An additional benefit is a potential path
to Asia-based manufacturing in
parallel with our Colorado Springs production. Both companies
will also explore advanced development opportunities to utilize
UniPixel's unique metal mesh technology to co-develop integrated
touch displays for bendable and foldable applications in the coming
years."
UniPixel today filed Form 8-K with the Securities and Exchange
Commission regarding this Memorandum of Understanding.
About UniPixel
UniPixel, Inc. (NASDAQ: UNXL) develops
and markets Performance Engineered Films for the touchscreen and
flexible electronics markets. The Company's roll-to-roll
electronics manufacturing process patterns fine line conductive
elements on thin films. The company markets its technologies for
touch panel sensor, cover glass replacement, and protective cover
film applications under the XTouch™ and Diamond Guard™ brands. For
further information, visit www.unipixel.com.
Forward-looking Statements
All statements in
this news release that are not based on historical fact are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including the
statement regarding UniPixel's entry into a definitive agreement,
including with regard to timing, payments and the contributions
that UniPixel and GIS will make to the proposed Transaction. Such
statements contain words such as "will," and "expect," or the
negative thereof or comparable terminology. These statements are
based on management's current expectations. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties, and other factors, many of which are outside of our
control, that could cause actual results to materially differ from
such statements. These risks, uncertainties, and other factors
include, but are not limited to, risks related to UniPixel's
ability to successfully negotiate and enter into a definitive
agreement on the proposed terms and schedule, including risks and
uncertainties related to such negotiation and closing conditions
for the definitive agreement, the ability to recognize revenues,
the ability to extend product offerings into new areas or products,
the ability to compete in our currents markets, the ability to
commercialize licensed technology, unexpected occurrences that
deter the "bring to market" plan for products, trends and
fluctuations in the industry, changes in demand and purchasing
volume of customers, our ability to attract and retain qualified
personnel, our ability to raise additional capital, the ability to
move product sales to production levels, the success of product
sales in new markets or of recently produced product offerings, the
ability to enforce our intellectual property rights and those set
forth under Item 1A "Risk Factors" in our Annual Report on Form
10-K for the year ended December 31,
2015 and other current and periodic reports filed or
furnished from time to time with the SEC. All forward-looking
statements in this press release are made as of the date hereof,
based on information available to UniPixel as of the date hereof,
and UniPixel assumes no obligation to update any forward-looking
statement.
Trademarks in this release are the property of their respective
owners.
Contact:
Joe Diaz, Robert Blum, Joe
Dorame
Lytham Partners, LLC
602-889-9700
unxl@lythampartners.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/unipixel-enters-into-memorandum-of-understanding-with-gis-300392572.html
SOURCE UniPixel, Inc.