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Flexpoint Sensor Systems Reaches Agreement with QS 9000 Manufacturer
DRAPER, Utah, Feb 17, 2005 (BUSINESS WIRE) --
Flexpoint Sensor Systems, Inc. (OTCBB:FLXT) today announced they have reached a Cooperative Agreement with a qualified automotive manufacturer to produce Bend Sensor(R) applications for the automotive industry.
Automobile manufacturers and Tier 1 suppliers require all manufactured parts to be completed at a QS 9000 certified facility. In order for Flexpoint to further negotiations and ultimately consummate a contract, potential clients needed assurance the Company has the ability and resources to meet the quantities demanded, and uphold the quality standards required for consideration as an automotive supplier. Flexpoint's new agreement satisfies these requirements. The manufacturer's facility is QS 9000 Certified, currently manufacturing for the automotive industry, and qualified for production of the Bend Sensor(R) technology.
"This agreement is a major step towards accomplishing our goal of supplying the automotive industry with Bend Sensor(R) technology," stated CEO of Flexpoint, Clark Mower. "Flexpoint is currently in the process of qualifying our facilities as QS 9000, but felt it was important to now have the manufacturing capability. This gives our clients and us the assurance we have the manufacturing capability to develop and produce the quantity and quality of products the automotive industry demands. The presence of our new manufacturing agreement will expedite our ability to deliver a finished product to market and provide us with leverage in attracting and negotiating contracts."
Flexpoint Sensor Systems, Inc. has developed and patented the Bend Sensor(R) technology. The Bend Sensor is a technological breakthrough that offers a superior solution for applications that require accurate measurement and sensing of deflection, acceleration and range of motion. Global market opportunities include automotive, medical, industrial controls, government, health and fitness, security, computer, aerospace, transportation and consumer products.
Forward-Looking Statements
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.
SOURCE: Flexpoint Sensor Systems, Inc.
Flexpoint Sensor Systems, Inc.
John Sindt, 801-568-5111
or
Brokers/Analysts
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Shawn Miller, 800-400-1290
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