OCLI Announces Its Subsidiary, Flex Products, Inc.,
to Supply Optically Variable Pigment for Use on the
Currency of The People's Republic of China
SANTA ROSA, Calif., Aug. 17 /PRNewswire/ -- Optical Coating Laboratory, Inc. (Nasdaq: OCLI - news) today
announced that its subsidiary, Flex Products, Inc. has entered into a series of agreements with the China Banknote Printing and
Minting Corporation (CBPMC), a wholly owned subsidiary of the People's Bank of China, to provide its patented optically
variable pigment (OVP®) for use on Chinese currency and other security documents issued by the Government of the People's
Republic of China (PRC). Flex will sell OVP® for use by China Banknote SICPA Security Ink Co. Ltd., a joint venture
company being established between SICPA Holding S.A., Flex's exclusive customer for OVP® for use in printing inks for the
document security market, and CBPMC. Under the terms of these agreements, Flex will establish an OVP® manufacturing
facility in China within the next 24 months. In connection with this transaction, the Government of the PRC has agreed to
directly provide Flex with certain assurances and assistance to encourage and facilitate the establishment of the OVP®
manufacturing facility in China. Pending the completion of the facility in China, Flex will supply OVP® for use by the Chinese
government from its facilities in Santa Rosa, California.
Joseph Zils, President and Chief Executive Officer of Flex said, ''the adoption of the Flex technology by China Banknote
SICPA Security Ink Co. Ltd., for the manufacturing of OVI® inks in China, represents yet another significant endorsement of
OVP® and OVI® for the protection of currency and other valued documents. We look forward to a very long and rewarding
relationship with the CBPMC.''
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