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Liquidmetal® Technologies Announces Manufacturing Partnership for Italy
--Business Model Expands Manufacturing Operation to Padova, Italy--
LAKE FOREST, CA, June 29, 2006 ----- Liquidmetal® Technologies, Inc. (LQMT:OB) announced it has entered into a joint venture agreement with SAGA, SpA in Padova, Italy, a specialist precision part manufacturer to establish the first Liquidmetal® manufacturing operation in Europe in Padova, Italy. The announcement comes in response to a rapidly growing interest and customer base in Liquidmetal which calls for expanded licensing arrangements in strategic locations worldwide to satisfy this need and help accelerate the adoption of Liquidmetal.
According to Ricardo Salas, President and CEO, “This marks another major step in the execution of our strategy to accelerate the adoption of our technology and to truly make Liquidmetal pervasive around the world. With this joint venture, we will be able to better serve Safilo, but also be able to more rapidly penetrate the markets in Italy and Europe. We have gained a great partner in SAGA which will further assist in the development of our new technology as they add their 30 years of experience in the manufacturing of precision components with their customers in Italy.”
The joint venture, to be called Liquidmetal SAGA Italy, Srl (LSI) will have an exclusive manufacturing license for the eyewear industry. The joint venture will initially focus on the development and commercialization of eyewear with Safilo SpA, a worldwide leader in luxury eyewear, supplying frames and sunglasses for most of the luxury brands with operations in more than 120 countries worldwide.
SAGA is recognized as an innovative, high quality manufacturer of precision parts across a diverse customer base. Since its founding more than 30 years ago, SAGA has long-standing relationships with customers in various industries including automotive, industrial and household products. Aronne Meneghetti, CEO of
SAGA, commented, “SAGA is enthusiastic about the prospects of leveraging the unique properties of the Liquidmetal alloys in delivering precision parts to new and existing customers. Our collaborative effort in LSI promises to expand our business opportunities for both Liquidmetal Technologies and SAGA.”
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About Liquidmetal® Technologies, Inc
Liquidmetal® Technologies, Inc. (www.liquidmetal.com)
is the leading developer, manufacturer, and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two to three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts similar to plastics, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy’s performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be
The Third RevolutionTM in material science.
This press release may contain “forward-looking statements” that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," “intend,” “may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer’s products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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