Flexpoint Updates Production Capacity for 2013
DRAPER, Utah, Dec. 6, 2012 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) today disclosed details about its on-site production capacity ahead of sizeable production orders expected during the next few months. With all current resources fully engaged, Flexpoint is capable of producing approximately 28 million sensors annually. It should be noted that production capacity varies depending on the size, shape, and certain other characteristics of the sensor required by the application. These numbers were calculated on the basis of standard business conditions, consisting of one eight hour shift, five day work weeks, and holiday breaks. Sensor output can be increased significantly by adding workers or adding additional shifts. Flexpoint also has the ability to relatively easily add an additional production line which also would significantly increase production capacity.
Plans are in place to contract additional manufacturing capacity to supply any sensor volume beyond what Flexpoint can produce on-site. Combined, these resources are more than sufficient to meet foreseeable demands from current clients. While some of the production for our sensors may be outsourced, Flexpoint will produce the majority of its sensors for its various clients.
"We often have clients and investors inquire about our manufacturing capacity and whether we can meet the demands of the marketplace when we receive larger orders," said Flexpoint CEO Clark Mower. "While there is some variability based the different types of sensors we are producing, we can currently manufacture 2-3 million sensors per month. This is based on what we have produced historically and should illustrate the ease with which we can meet the growing demand for our sensors and the orders we anticipate for next year. We can more than double our production capacity quickly by adding addition shifts, lines and workers. We are well equipped to meet the needs of our clients."
Flexpoint Sensor Systems (OTCBB: FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor's single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
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