- IN2TEC licenses Duraswitch technology
- (2001-07-30)
- PRESS RELEASE For Release: July 30, 2001DURASWITCH LICENSES IN2TEC LTD.Continues expansion in
Europe through UK-based switch manufacturer PHOENIX, Ariz.(July 30, 2001) Duraswitch Industries, Inc. (Nasdaq:
DSWT) executed a license agreement with In2tec Ltd., formerly the UK operations of C&K Components, Inc.,
announced Tim Kuhn, Duraswitch vice president of business development. "This is a significant step in our world-wide
sales efforts. Licensing In2tec expands our market presence and increases the market exposure for our product line in the
United Kingdom," Kuhn continued. In2tec is an engineering driven company in the membrane switch business, evolving
from an electronic switch environment rather than the more common printing environment. The company's experience with
flex circuits and embedded components serves as the core product for their future growth and gives their engineers a level
of experience and mastery that has allowed them to quickly comprehend the benefits of implementin
- g Duraswitch's technology. "Our strategic objective is `growth through innovation'. We were attracted to Duraswitch
because of their continued development of new electronic switch solutions," said Neil Armstrong, CEO of In2tec Ltd. He
continued, "Duraswitch broadens our product line, allows us to penetrate new markets and gives us the tools to implement
effective solutions for our customers. We've already seen a lot of customer excitement surrounding the thiNcoderTM RT
rotary switch. Its exceptional design attributes will allow us to provide significant differentiation for our customers." In2tec
has a strong presence in the test and instrumentation, medical and industrial controls markets with customers that include
Agilent Technologies, HP, NCR and Rhode & Schwartz. Under the terms of the license, In2tec will pay Duraswitch
royalties on a per-switch basis for use of the technology. Bob Brilon, Duraswitch president added, "We are pleased with
the continued licensing success of Duraswitch technology on a global scale. The European market has been the source of
much interest in our technology, and we are excited to see such positive results of our increased marketing efforts there."
Recognizing the opportunities for its technology in the global marketplace, Duraswitch recently began to target expansion
through manufacturers in Europe and Asia. To date, Duraswitch has executed licensees with five foreign-based
manufacturers. About In2tecAn established manufacturer in the membrane switch business for over 16 years, In2tec is
known in the industry as a customer driven, value-added innovator. In2tec was originally established in 1985 as the
membrane products division of C&K Switches Ltd. It was integrated as part of the Cannon division of ITT Industries until
a management buy-out in June 2001. As an independent company, its focus is on developing the membrane and interface
business by providing its customers with cost-effective, innovative solutions to their switching businesses.
- In2tec is headquartered in Kettering, England and can be reached at +44 01536 419200. The company's new Web site
will be at www.in2tec.com. - more -
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- Contact:Heather BeshearsTel: 480.586.3357Fax: 480.586.3374heather@duraswitch.comPage 2 About Duraswitch
Duraswitch's patented new technologies are used to operate or control products in a wide variety of commercial, industrial
and consumer applications. These next-generation electronic switch designs address trends in the market today, providing:
high durability and reliability, sealability against harsh environments, illumination capabilities, ergonomic, user-friendly
interfaces in flat-panel, slim profile designs that allow multiple switch and switch type integration. Duraswitch is building
domestic and foreign patent protection for its technology and is entering into license agreements with switch manufacturers
and OEMs worldwide to quickly achieve widespread distribution of its technology. Licensing royalties are based on
licensed manufacturers' use of Duraswitch's intellectual property for electronic switch applications that benefit from the
advantages of our patented technology. Dura switch Industries, Inc. engineers, markets and licenses electronic switches
under its patented switch technology (US Patent Nos. 5,523,730 / 5,666,096 / 5,867,082 / 5,990,772 / 6,023,213 /
6,069,545 / 6,069,552 / 6,130,593 / 6,137,387). For more information about Duraswitch, visit the web site at
www.duraswitch.com or call 480.586.3300. The statements and implications in this release regarding world-wide sales
efforts, expanding market presence, increased market exposure, continued development of new technologies, potential
customer applications using Duraswitch technology, the success of the company's business model, acquisition of new
license agreements, and future success are forward-looking statements, which are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially. Factors that could cause or contribute to such differences
- include, but are not limited to, unanticipated problems relating to the development, manufacture and introduction of new
products, costs of raw materials, marketing and sales of Duraswitch products, market acceptance of new products, ability
to license products to third parties, competitive and economic conditions encountered by Duraswitch and its existing and
potential customers and licensees. The forward-looking statements should be considered in light of these risks and
uncertainties. ###
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