Uni-Pixel Inc (NASDAQ:UNXL) reported that it is has signed a long tern agreement with one of the U.S. based major PC maker to provide XTouch touch screens sensors.
Terms of the agreement
The company will be able to supply the Xtouch screens on a multiple year basis. The PC maker will avail rolling forecasts to the company who will use their reasonable efforts to reserve manufacturing capacity for them. In turn, the PC maker will comply to use their best effort commercially to make the purchases detailed in the rolling forecasts.
The agreement also provides for sharing of product development road maps as well as engage in innovation discussions between the customer and UniPixel. The customer also acquires the right to particular technology developments.
Benefits of the agreement
The president and chief executive of UniPxel, Jeff Hawthorne, stated that the multi-year agreement favors both companies well in that it provides a benefit for both of them in relation to the demand of the product and the manufacturing capacity. It assures timely development, delivery as well introduction of new products.
UniPixel gains through long term planning capabilities as well as capacity preparation. The PC maker gains from solving their current market needs and introducing new products in the market.
Hawthorne summarized by stating that the agreement was a validation of their touch screen technology. It reflected their confidence of attracting a PC manufacturer to adopt their technology. The company views the alliance as a strategic and productive partnership and it looks forward to working alongside the industry leader in the coming years.
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Unipixel provides Performance Engineered Films the electronic and touch screen markets and their collaboration with PC maker boost the company’s confidence in spreading their technology to the wider market.
Forward looking statements
Information provided in this news which is not based on historical facts is “forward looking statements” in accordance to the amended Section 27A of the Securities Act 1933 and Section 21E of the Securities Act of 1934.
The forward looking statements are based on a couple of assumptions relating to future events and hence are subject to a number of risks and uncertainties. They rely on the current information available to the company and therefore the company assumes no obligation to update any of the forward looking statements.
