Liquidmetal(R) Technologies Announces Manufacturing Partnership for Italy
Thursday June 29, 8:00 am ET
Business Model Expands Manufacturing Operation to Padova, Italy
LAKE FOREST, Calif.--(BUSINESS WIRE)--June 29, 2006--Liquidmetal® Technologies Inc. (OTCBB:LQMT - News) 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.
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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." |
