SANTA CLARA, Calif., March 22, 2017 /PRNewswire/ -- UniPixel, Inc. (NASDAQ: UNXL), a provider of Performance Engineered Films™ to the touch screen and flexible electronics markets, announced today that it has entered into a long-term agreement with a major U.S.-based PC maker to supply XTouch touch screen sensors on a multiple year basis.
The agreement provides that the PC maker will supply rolling forecasts to UniPixel who will use its reasonable efforts to reserve manufacturing capacity for the PC maker who, in turn, agrees to use its best commercial efforts to make the purchases outlined in the rolling forecasts.
In addition, the agreement provides for the customer and UniPixel to share product development roadmaps and engage in innovation meetings. The customer also has a right to request limited, exclusive early access to certain technology development advancements.
Jeff Hawthorne, president and chief executive officer of UniPixel, commented, "This multiyear agreement serves both parties well as it provides an expectation to both companies in terms of demand for the product and the manufacturing capacity to assure the timely development, delivery, and introduction of new products. UniPixel benefits from long-term planning capabilities and capacity preparation while our partner is supported in addressing their current market needs as well as bringing new devices to the market."
Mr. Hawthorne concluded, "This is a validation of the efficacy of our touch screen technology and it reflects the confidence of a leading PC manufacturer in our technology. We see this as a strategic and collaborative partnership and we look forward to working with this industry leading partner in the coming years."
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.
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 statements regarding delivery of rolling forecasts from the customer and UniPixel reserving manufacturing capacity to meet those forecasts with the customer purchasing sensors, and the sharing of product roadmaps and technology developments. 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, 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.
Joe Diaz, Robert Blum, Joe Dorame
Lytham Partners, LLC
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/unipixel-signs-long-term-agreement-with-major-us-based-pc-maker-to-supply-xtouch-sensors-300427585.html
SOURCE UniPixel, Inc.