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Plastic Logic Places Multimillion Dollar Product Order from NexTech Solutions
FAS Extrusion Coating Line to be Integrated into Plastic Logic's Manufacturing LineAUSTIN, TX-- Dec. 3, 2007 - Plastic Logic Limited and NexTech Solutions (Pink Sheets: NXSN), are pleased to announce that plastic electronics leader, Plastic Logic Limited, has placed an order with NexTech Solutions for the FAS Advantage IV Extrusion Coater Line, a fully automated and integrated coating line that will be incorporated into Plastic Logic's manufacturing line of flexible organic active matrix displays. Plastic Logic selected NexTech Solutions over top industry competitors because of its proven and technologically superior product performance. The Advantage IV Coating Solution is a fully automated, integrated coating line designed to meet the unique requirements of Plastic Logic's manufacturing process. The integrated coating line uses FAS' patented FASCoat™ technology, a high-performance extrusion coating method used in the development of flat panel displays. FAS Advantage Coaters are sold as an integrated solution in a full-track system or as a stand-alone solution for R&D applications. President of NexTech Solutions, Mr. Tony Di Napoli, stated, "Efficient handling and coating is critical for manufacturers of flexible organic active matrix displays. After conducting extensive trials of the FAS Advantage IV, Plastic Logic's selection of our coating solution validates our technological superiority. We are very pleased to be working with an industry leader like Plastic Logic, and to be able to meet their high-quality standards." About Plastic Logic Plastic Logic was spun out of Cambridge University in 2000 to build on 10 years of research and has a team of more than 90 employees. The company has now raised equity and venture finance from financial and industrial investors including Amadeus Capital Partners (UK), BASF (Germany), Bank of America (US), Dow Chemical (US), Intel Capital (US), Morningside (Hong Kong), Merifin Capital (Belgium), Nanotech Partners (an international nanotechnology fund established principally by Mitsubishi Corporation of Japan), Oak Investment Partners (US), PolyTechnos Venture-Partners (Germany), Siemens (Germany), Tudor Investment Corporation (US) and Yasuda Enterprise Development (Japan). Other shareholders include Cambridge Display Technology, Seiko Epson and the University of Cambridge. Venture finance has been provided by European Technology Ventures and European Venture Partners. About NexTech Solutions and FAS Technologies FAS Technologies, LLC is a Texas Limited Liability Company with offices in Dallas and Tokyo. FAS Technologies is a pioneering company widely recognized in the industry for the development of digital fluid dispensing a patented spinless coating technology known as "FAS-Coat," which has become the de-facto standard in the coating process of FPD substrates during manufacture. The company is engaged in the design, development, manufacture, integration, sale and servicing of advanced, high-precision coating systems for the microelectronics industry. For more information, see: http://www.fas.com. NexTech and FAS have announced plans to combine the two companies in a two-step transaction. The companies will consolidate operations into a joint venture which is expected to close in the fourth quarter of 2007, subject to closing conditions. Following necessary approvals of stockholders and regulatory authorities, the companies will be combined in a merger transaction and reincorporated in Delaware. Forward-Looking Statements: |
NexTech Solutions, Inc. and FAS Holdings Group, LLC have entered into a joint venture and have consolidated operations into the Delaware company, NFJV, Inc., doing business as “NexTech FAS”
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