Screen Technology Group plc
27 September 2006
For Immediate Release 27 September 2006
Screen Technology Group plc
("Screen Technology" or "the Company")
Technical and financial partnership with Wilden AG
Screen Technology Group plc ("Screen Technology" or "the Company" or "the
Group") the designer and manufacturer of revolutionary high-resolution
large-screen displays for high ambient light environments today announces an
exciting new technical and financial partnership with Wilden AG.
Highlights
• Long-term supply arrangement for Wilden to supply injection moulded
light-guides to Screen Technology.
• Wilden will set up a production "cell" to produce light guides and operate
Screen Technology's tile assembly machine to produce finished tiles.
• Wilden will provide funds to acquire the first high-speed machine and provide
long-term finance of the injection moulding tools.
• Total investment by Wilden totalling over £1.2 million and over £500,000 by
the beginning of 2007.
• The partnership will accelerate Screen Technology's expansion of production
resources.
• Potential for Wilden to reproduce further production cells in locations around
the world.
• Wilden has the technical competence, financial resources and global reach to
be a valuable partner for Screen Technology for the future.
Peter Smyth, non-executive Chairman said
"We are very excited by the partnership with Wilden AG, which will give us a
strengthened platform for growth. Wilden, has the technical competence, the
resources and the global reach to be a valuable partner and the investment
Wilden is putting into the partnership will give us a greater ability to expand
to meet expected market demands."
Technical and financial partnership
Screen Technology is pleased to announce that it has signed letters of intent
with Wilden AG ("Wilden") to enter into a partnership for the production of
injection moulded light guides and the operation of the Company's first high
speed tile assembly machine.
Wilden is a major producer of specialist high-quality high-technology injection
mouldings for the automotive, electronic and telecommunications and medical
industries. Its customers include Daimler Chrysler, Astra Zeneca, Siemens,
Sennheiser and Roche. Wilden has a broad international presence with facilities
located in North America, Western and Eastern Europe, and the Middle and Far
East.
The agreement provides that Wilden will manufacture two new injection moulding
tools to produce light guides for use in the manufacture of ITrans tiles. The
cost of these tools will be spread over three years.
Furthermore, Wilden has agreed to fund the acquisition of the first high speed
tile assembly machine when it completes its factory acceptance testing, expected
to be in October of this year. Wilden will provide cash to meet the final
payment due on the delivery of the machine with further payments amounting to
the full £1.1 million cost of the machine. Wilden's total contribution to the
cost of moulding tools and the tile assembly machine is expected to amount to
over £500,000 by the beginning of next year. In addition, Wilden will invest
itself in dedicated injection moulding machinery to produce the light guides on
a 24/7 basis.
Wilden will operate the tile assembly machine at its own premises on a sub-
contract basis although the machine and all the intellectual property that goes
with the ITrans process will continue to belong to Screen Technology. The board
expects this production "cell" making light guides and ITrans tiles at one
location to be a model for more cells which may be located around the world.
This partnership is a very exciting opportunity for Screen Technology. In
Wilden, we have found a partner with the technical competence and the resources
and global reach to work with us through a period of rapid expansion.
Furthermore the investment that Wilden is putting into this project in time and
resources as well as significant cash commitment underlines the faith we both
have in the success of ITrans.
For more information please contact
Screen Technology Group plc www.screentechnology.com
Thomas Jarman, CEO 01223 559600
Simon Barton, Finance Director
Buchanan Communications 020 74665000
Isabel Podda
Notes to Editors
Screen Technology is the designer and manufacturer of revolutionary
high-resolution large-screen displays designed for high ambient light
environments.
The high resolution and high definition of the Company's displays give a
high-quality image suitable for advertising images and video as well as public
information displays. They are visible at short viewing distances as well as
across larger venues making them particularly suitable for large retail outlets,
shopping malls, control rooms and transport concourses where customers might be
within 10m of the display, a distance at which LED display technologies become
unsuitable. The high brightness means that the displays are also easily visible
in the kind of high ambient light environments where conventional LCD or plasma
technologies become unusable.
Screen Technology's patent protected technology uses moulded optical fibre tiles
to produce seamless large displays using standard production LCD panels. The
scaleable modular technology enables screens to be built in a wide variety of
shapes and of theoretically unlimited size.
Screen Technology Group plc listed on AIM, a market operated by the London Stock
Exchange, on 1 August 2005.
This information is provided by RNS
The company news service from the London Stock Exchange
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