Immersion Technologies Intl PLC
10 December 2007
Press Release
10 December 2007
Immersion Technologies International plc ('Immersion' or 'ITI')
First Consignment of Nakamichi ESL Dragons Completed
Appointment of Chief Operating Officer
Further to the announcement on 19 November 2007, Immersion is now pleased to
confirm that the first consignment of Nakamichi ESL Dragon product has completed
final inspection, is ready to ship and is awaiting collection by Nakamichi from
Immersion's facility in Nanjing, China. This represents a significant milestone
for Immersion as full production has now been approved. Meanwhile discussions
concerning the commissioning of further product lines are also continuing.
Separately, Immersion is very pleased to confirm the appointment of Mr. Arie van
den Broek as Chief Operating Officer. Most recently, Arie was General Manager of
Nakamichi Corporation's Singapore office, so his knowledge and experience will
be crucial as Immersion seeks to build on its existing commercial relationship
with Nakamichi.
Before joining Nakamichi, Arie spent 15 years working in a variety of sales and
marketing roles in the electronics and consumer goods sectors, including Skyware
Radio Systems, Behringer and AEG. He also has considerable experience of
running businesses with newly established manufacturing operations.
Craig Evans, Chief Executive of Immersion, said:
'We have always aspired to be more than merely a company with exciting
technology and licensing potential. Today's news takes us from potential to
reality, as a key customer pays real money for a real product. Combining an
exciting and unique audio technology with the ability to mass produce speakers
in which it is incorporated is a powerful combination, which should prove
attractive to large electronics organisations.
Commenting on the appointment of Arie van den Broek, he added:
'Arie's expertise and experience will be invaluable in marketing Immersion's
technological and manufacturing prowess. He knows all the pitfalls in selling
product to large organisations and brings with him an extensive network of high
level industrial contacts.'
Enquiries:
Immersion Technologies International plc
Craig Evans / Blair Snowball +44 (0)20 7016 5107
Pelham Public Relations
Archie Berens +44 (0)20 7743 6679
St. Helens Capital - Broker
Ruari McGirr +44 (0)20 7628 5582
Nabarro Wells - Nominated Adviser
Hugh Oram / Anthony Rowland +44 (0)20 7710 7400
NOTES FOR EDITORS
Background Information on Immersion
Immersion is an audio technology company with patented and patent pending
technologies relating to both its high performance electrostatic loudspeakers ('
'ESL'') and award-winning conventional cone loudspeakers (''CCL'').
The Immersion Technology has been researched and developed for over 10 years and
has been designed with the intention to provide the highest possible audio
reproduction characteristics and set a new standard to benchmark these
characteristics. Immersion has achieved what the Immersion Directors consider
to be a new level of high definition acoustics and has made an application to
register the trade mark High Definition - Acoustics HD-A(R) , to reflect this
standard internationally.
The Immersion Technology reduces audio distortion to extremely low levels thus
enhancing clarity without compromising volume in both ESL and CCL loudspeakers.
Immersion has the ability to manufacture ESL devices in thin, small
aesthetically pleasing designs. In addition, the technology is proven to be
scalable and can be incorporated into speakers of almost any size or shape. The
Immersion Directors believe that these factors will provide a significant
marketing advantage in the competitive market for audio reproduction devices.
Background on Nakamichi Corporation
Nakamichi Corporation is one of the world's premier manufacturers of high
quality, high performance audio/video and multimedia equipment. Long renowned
for the sophistication of its home audio and mobile sound systems, Nakamichi
continues to introduce leading edge products that are widely available
throughout the world.
The Nakamichi name represents a long, proud tradition of quality and innovation
in acoustics and electronics. Today's Nakamichi had its origin in the founding
of a small research institute in 1948. Nakamichi Research, as it was then
called, got its start in basic research and development in electromagnetism,
magnetic recording, acoustics and communications.
This information is provided by RNS
The company news service from the London Stock Exchange
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