Screen Technology Group plc
08 March 2007
For Immediate Release 08 March 2007
Screen Technology Group plc
Trading statement
Screen Technology Group plc ("Screen Technology" or the "Company"), the AIM
listed designer and manufacturer of revolutionary high-resolution large-screen
displays for high ambient light environments, today announces that there will
some changes to the Company's production plans following developments at a key
supplier.
The Company announced on 27 September 2006 that it had entered into a
partnership agreement with Wilden AG ("Wilden") under the terms of which Wilden
is to manufacture two new injection moulding tools to produce light guides for
use in the manufacture of ITrans tiles. Manufacture of these moulds is
proceeding satisfactorily and they are expected to be available later this
month. However, following the recent takeover of Wilden by Gerresheimer Group,
internal changes at Wilden have resulted in some delays in the production, using
existing mould tools, of moulded parts used by Screen Technology to manufacture
ITrans tiles. These parts are required to finalise the testing and commissioning
of this first high-speed tile assembly machine. The Board now expects that
testing of the machine, which is now underway, will be completed shortly with
the planned relocation of the machine to one of Wilden's European production
facilities following shortly thereafter. Wilden will then operate the machine at
their facility in accordance with the partnership agreement. The Board
anticipates that there will a delay of two months compared with the original
plans.
Under the partnership agreement Wilden also agreed to re-finance the first
high-speed tile assembly machine when it completes its factory acceptance
testing. Changes at Wilden now mean that the funding commitment is no longer
available and the Company is seeking alternative funding arrangements which the
board expects to finalise shortly.
The Company continues to have a strong pipeline of actual and prospective orders
and expects to begin shipments of Modular products, using production from
existing tile manufacturing machines, during the second quarter of 2007 with
Modular production being supplemented by tiles from the high-speed machine
shortly thereafter.
Screen Technology Group plc www.screentechnology.com
Thomas Jarman, CEO 01223 559600
Simon Barton, Finance Director
Charles Stanley Securities 020 7149 6000
Russell Cook
Henry Fitzgerald-O'Connor
Notes to Editors
Screen Technology
Screen Technology is the designer and manufacturer of 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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