SANTA CLARA, Calif.,
June 11, 2017 /PRNewswire/ --
UniPixel, Inc. (NASDAQ: UNXL), a provider of advanced
solutions to the touchscreen and flexible electronics markets,
today announced it will close its Texas location as part of an initiative to
enhance operations and streamline expenses to shift capital to fund
our projected growth. The R&D operations from the Texas location will be transferred to the
Company's Colorado Springs facility. The Company will also reduce
operating expenses by eliminating overlapping operational
responsibilities in Asia and the
U.S. by consolidating them in Asia. The initiatives and cost rationalization
will commence during the second half of 2017 and are expected to
reduce costs by $2-3 million by the
end of the calendar year.
Jeff Hawthorne, CEO of UniPixel,
stated, "Assigning certain overlapping technical skills from the
U.S. to Asia will enhance our
customer support capabilities. Co-locating R&D with the
manufacturing team in Colorado Springs will result in cost savings
and achieve better product development synergies. With an eye
toward future growth, we have a robust product development pipeline
which includes DiamondTouch™ hard coating that can replace cover
glass. The other major element of our development pipeline is
foldable/flexible technologies. We have engaged in joint
development of UniPixel's touch sensor technology with General
Interface Solution, Limited ("GIS"), a Taiwan-based, subsidiary of Foxconn,
specifically for flexible display applications."
About UniPixel
UniPixel, Inc. (NASDAQ: UNXL) develops
and markets high performance metal mesh capacitive touch sensors
for the touchscreen and flexible displays markets. The Company's
roll-to-roll electronics manufacturing process patterns fine line
conductive elements on thin films. The company markets its
technologies for touch panel sensor, cover glass replacement, and
protective cover film applications under the XTouch™ and Diamond
Guard™ brands. For further information, visit www.unipixel.com.
Forward-looking Statements
All statements in
this news release that are not based on historical fact are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including the
statement regarding projected cost savings. Such statements contain
words such as "will," and "expect," or the negative thereof or
comparable terminology. These statements are based on management's
current expectations. These forward-looking statements rely
on a number of assumptions concerning future events and are subject
to a number of risks, uncertainties, and other factors, many of
which are outside of our control, that could cause actual results
to materially differ from such statements. These risks,
uncertainties, and other factors include, but are not limited to,
timing of expenditures, the ability to recognize revenues, the
ability to extend product offerings into new areas or products, the
ability to compete in our currents markets, the ability to
commercialize licensed technology, unexpected occurrences that
deter the "bring to market" plan for products, trends and
fluctuations in the industry, changes in demand and purchasing
volume of customers, our ability to attract and retain qualified
personnel, our ability to raise additional capital, the ability to
move product sales to production levels, the success of product
sales in new markets or of recently produced product offerings, the
ability to enforce our intellectual property rights and those set
forth under Item 1A "Risk Factors" in our Annual Report on Form
10-K for the year ended December 31,
2016 and other current and periodic reports filed or
furnished from time to time with the SEC. All forward-looking
statements in this press release are made as of the date hereof,
based on information available to UniPixel as of the date hereof,
and UniPixel assumes no obligation to update any forward-looking
statement.
Trademarks in this release are the property of their respective
owners.
Contact:
Joe Diaz, Robert Blum, Joe
Dorame
Lytham Partners, LLC
602-889-9700
unxl@lythampartners.com
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SOURCE UniPixel, Inc.