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Simula Confirms Commercialization of Polymer in PPG's Optical Lens Material
PHOENIX--(BUSINESS WIRE)--Dec. 28, 2000--Simula Inc. (Amex:SMU - news) today confirmed that PPG Industries recently announced Trivex(TM) optical lens material is based on a patented polymer originally developed by Simula for military applications.
PPG reports that Hoya Corporation Vision Care Co. and Younger Optics Inc., two leading lens manufacturers that partnered with PPG in commercializing the material, plan to debut new lines of Trivex-based lenses in early 2001. According to PPG, the material has been received with great interest among focus groups of optometrists.
Brad Forst, president and CEO of Simula, noted that the company will receive royalties from PPG based on the volume of Trivex sales.
``We are pleased that by utilizing our technology, PPG and its partners have succeeded in creating an optical material that gives consumers just what they want: exceptional visual acuity in a thin yet strong lens that is highly resistant to scratches,'' said Forst. ``Their success validates the company's program to leverage its portfolio of innovative technologies by selectively structuring licensing agreements with third parties like PPG who have the expertise and marketing savvy to commercialize those technologies. Trivex is, we believe, only the first of several potential commercial applications of our polymer technology.''
As announced last May, PPG, the world's largest producer of optical grade monomers used in the manufacture of ophthalmic lenses, chose to license Simula's technology on the basis of the material's excellent optics, light weight and impact resistance.
Simula retains the rights to develop its transparent polymer technology in countless other areas, including transparent armor for vehicles and military aircraft, bullet-resistant glazing, protection against chemical attack, and protection against laser threats. Trivex(TM) is a trademark of PPG Industries.
Simula is a diversified technology company that designs and manufactures occupant safety systems and devices engineered to safeguard human life in a wide range of air, ground and sea transportation vehicles. The company operates in two principal markets that are aligned with its core technologies: aerospace and defense systems, and automotive safety systems.
The company's core products and technologies include inflatable restraints, energy absorbing seating systems, advanced polymer materials, transparent and opaque armor products, personnel protective equipment and parachutes, and crash sensors. Additional information can be found at www.simula.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements that involve risks and uncertainties that may cause the company's actual experience to differ materially from that which is anticipated. These forward-looking statements include statements about future commercialization of the company's polymer technology. Actual results may differ materially from those anticipated. Additional risks include those described herein and in the company's registration statements and periodic reports filed with the U.S. Securities and Exchange Commission.
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Contact:
Simula Inc., Phoenix
James C. Dodd, 602/631-4005
or
Silverman Heller Associates
Philip Bourdillon/Eugene Heller, 310/208-2550 |
