SANTA CLARA, Calif., Dec. 3, 2015 /PRNewswire/ -- UniPixel, Inc. (NASDAQ: UNXL), today announced that the Company has completed the transfer of its XTouch™ basecoat film operation from a third party in the United Kingdom to its manufacturing facility in Colorado Springs, CO. Basecoat film is the underlying photoresistive substrate upon which XTouch sensors are made, and until now has been the single most expensive component in the production XTouch touch sensors. Completing the transfer of the coating operation means that UniPixel no longer needs to purchase basecoat film from a third party, but instead will produce the film in its own factory. In-house processing is expected to initially reduce basecoat film costs by approximately 67%, with further cost reductions expected as XTouch sensor shipments scale in the future.
Jeff Hawthorne, CEO of UniPixel commented, "We are pleased to have completed this technology transfer ahead of schedule as we targeted the end of the calendar year for completion. With the ability to now completely process and manufacture the basecoat in Colorado Springs, we will benefit from significantly lower production costs that will improve our competitive position even more with the major PC manufacturers. As we continue to introduce XTouch to new PC manufacturers around the world, bringing the basecoat film operation in-house better positions UniPixel for continued growth as we now have control of supply and quality of this key component. The completion of this technology transfer is an important milestone, which will provide us an important competitive advantage as we work to gain a growing share of the market."
About UniPixel UniPixel, Inc. (NASDAQ: UNXL) develops and markets Performance Engineered Films for the touch screen 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 the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding expectations regarding the completion of the public offering. These statements are based on management's current expectations. Such statements contain words such as "will," and "expect," or the negative thereof or comparable terminology. Forward-looking statements involve certain risks and uncertainties, and actual results and the timing of events may differ materially from those discussed or implied in any such statement. These risks include, but are not limited to the satisfaction of the conditions of the closing of the public offering, market conditions and other risks related to UniPixel's business and operations as are discussed under the heading "Risk Factors" and in other sections of UniPixel's filings with the SEC, and in its 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.
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SOURCE UniPixel, Inc.